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S&P Global expects palm oil prices to be supported in early 2022 by supply tightness, then ease in the second half as foreign workers return to Malaysian estates and output recovers. Palm oil breached $1,000/mt in 2021 and hit record highs.
Low demand from India and China and a narrowing price gap with rival vegetable oils could cap prices.
A forecast decline in H2 2022 would weigh on palm oil and competing vegetable oils if demand stays soft. Fertiliser cost increases are a continued pressure on producer margins.
spglobal.comDec 31, 2021Not 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.
