Palm oil : El Niño phenomenon expected to contribute to tighter supply in 2024 

In 2024, the El Niño episode will be one of the main economic factors which will weigh on the global supply of palm oil. According to a Hamburg-based vegetable oil market analysis, unfavorable weather conditions could lead to an increase in overall supply of 200,000 to 300,000 tonnes in 2023/2024, the lowest annual growth rate in 4 years.