# Brighter Outlook for Malaysian Oil Palm Industry This Year

> Malaysia's palm oil industry outlook for 2024 was presented at the R&O seminar. MPOB projects crude palm oil prices averaging RM3,900 to RM4,200 per tonne versus RM3,809.50 in 2023, citing Indonesia's B35 biodiesel mandate and tight soybean supply.

- Date: 2024-02-29 · published 2024-02-29T12:00:00.000Z
- Category: report · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/9426-brighter-outlook-for-malaysian-oil-palm-industry-this-year
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expected B35 biodiesel demand and tight soybean output support higher palm oil prices and reduce available exportable supply for feed and food buyers.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2024-03-01 | 1 | +2.4% | 3.6 | MPOB's bullish 2024 price outlook (B35 mandate, tight soybean supply) on 2024-02-29 supports sentiment and could contribute to buying. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2023-03-27 | [Malaysia: Boost in demand for palm oil seen on supply recovery](https://feedsoft.ai/events/36955-malaysia-boost-in-demand-for-palm-oil-seen-on-supply-recovery.md) | +1.1% | -1.9% |
| PALMOIL | 2019-11-07 | [Total palm oil output of Indonesia, Malaysia seen flat in 2020 - analyst Mistry](https://feedsoft.ai/events/55947-total-palm-oil-output-of-indonesia-malaysia-seen-flat-in-2020-analyst-mistry.md) | +0.6% | +9.2% |
| PALMOIL | 2025-03-10 | [Malaysia palm oil stocks hit nearly 2-year low in Feb as output drops \| Reuters](https://feedsoft.ai/events/25675-malaysia-palm-oil-stocks-hit-nearly-2-year-low-in-feb-as-output-drops-reuters.md) | -1.1% | -5.0% |
| PALMOIL | 2025-01-10 | [Malaysian palm oil stocks hit 19-month low in December as output drops](https://feedsoft.ai/events/26606-malaysian-palm-oil-stocks-hit-19-month-low-in-december-as-output-drops.md) | +0.7% | +5.3% |
| PALMOIL | 2023-11-30 | [Crude palm oil outlook: MARC Ratings forecasts slightly positive trend - MARC](https://feedsoft.ai/events/15692-crude-palm-oil-outlook-marc-ratings-forecasts-slightly-positive-trend-marc.md) | -2.6% | -2.4% |
| SBO | 2023-03-27 | [Malaysia: Boost in demand for palm oil seen on supply recovery](https://feedsoft.ai/events/36955-malaysia-boost-in-demand-for-palm-oil-seen-on-supply-recovery.md) | -0.6% | -4.1% |
| SBO | 2023-11-30 | [Crude palm oil outlook: MARC Ratings forecasts slightly positive trend - MARC](https://feedsoft.ai/events/15692-crude-palm-oil-outlook-marc-ratings-forecasts-slightly-positive-trend-marc.md) | -3.6% | -5.7% |
| SBO | 2020-07-22 | [Asian palm oil producers forecast lower output in 2020](https://feedsoft.ai/events/52037-asian-palm-oil-producers-forecast-lower-output-in-2020.md) | -2.2% | +5.0% |

## Sources

- asia-palmoil.com: https://www.asia-palmoil.com/post/brighter-outlook-for-malaysian-oil-palm-industry-this-year

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.