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Brokers and traders forecast palm oil prices could fall in coming weeks if the coronavirus continues disrupting travel and leads to wider shutdowns of offices, malls and factories. Malaysia is counting on instant noodle production to support palm oil demand in China.
A shutdown-driven drop in food-service demand would weaken palm oil consumption, while stronger packaged-food output could partly offset it. The net effect points to downward pressure on palm prices.
reuters.comMei Mei Chu4 feb 2020Tras 10 eventos bajista de enfermedad pasados, Aceite de palma se movió una mediana de +0,4 % en 5 sesiones (50% al alza; mitad central entre -5,0 % y +1,3 %), y -8,5 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Traders expected further price declines if coronavirus shutdowns spread in China, reinforcing bearish demand sentiment, though noodle demand offers partial support.
