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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 abr 2019Tras 66 eventos neutral de informe pasados, Aceite de palma se movió una mediana de +0,2 % en 5 sesiones (58% al alza; mitad central entre -0,4 % y +2,0 %), y +2,2 % 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.
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.
