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Oil World analyst Thomas Mielke said global palm oil production growth is slowing because of lower productivity, few new plantings, labour shortages, and pest and disease problems. Production growth is expected to slow to 2.3 million tonnes a year through 2030, down from 2.9 million tonnes a year.
He predicted that CPO prices in 2023 will not fall back to the year's lows.
Slowing supply growth and rising biodiesel demand give palm oil a firmer price floor than in 2022. This supports prices for buyers of palm-based feed ingredients and vegetable oils.
pwc.comPricewaterhouseCoopersNov 7, 2022Not 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.
