Growing demand for biodiesel also tightening market, analysts say A worker pushes a wheelbarrow loaded with oil palm bunches at a plantation in Ijok, Malaysia, in May 2025.
Growing demand for biodiesel also tightening market, analysts say A worker pushes a wheelbarrow loaded with oil palm bunches at a plantation in Ijok, Malaysia, in May 2025. Market forecasters predict El Nino will drive palm oil prices up next year. © Reuters KUALA LUMPUR -- Palm oil prices are expected to remain high into next year as dry weather hits output in Southeast Asia's key production areas and demand rises for biodiesel, according to market analysts.