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The Malaysian Palm Oil Council says global palm oil demand may have bottomed out after the coronavirus pandemic hit consumption. It expects a slow recovery to follow.
The pandemic has closed restaurants and limited travel, reducing demand for palm oil used in food and renewable fuel.
A bottoming in demand would limit further downside for palm oil prices, but a slow recovery means any rebound is likely to be gradual.
focusmalaysia.myFocusMMay 5, 2020
malaysiakini.comReutersMay 5, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
