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Analyst Dorab Mistry raised his 2019 Malaysian palm oil output forecast to 20 million tonnes from 19.5 million, citing record monthly output from January to March. He warned that ageing trees would limit production later in 2019 and that inventories in Indonesia and Malaysia are expected to fall to 6 million tonnes.
A larger expected Malaysian crop adds supply, but falling combined inventories and ageing-tree constraints later in the year offset that, so the net price effect is mixed to mildly supportive.
thestar.com.myThe Star Online29.04.2019Nach 66 vergangenen Ereignisse (neutral, Bericht) bewegte sich Palmöl im Median über 5 Handelstage um +0,2 % (58% höher; mittlere Hälfte -0,4 % bis +2,0 %) und über 20 Handelstage um +2,2 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
Mistry's upgrade of 2019 Malaysian output to 20 million tonnes, citing record Q1 production, is the bearish supply catalyst, though the same note flagged ageing trees and falling inventories.
Raised 2019 Malaysian output forecast to 20 million tonnes on record Q1 output signals more supply and bearish sentiment.
