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BMI raised its 2024 forecast for Bursa Malaysia third-month crude palm oil futures to RM3,850 per tonne from RM3,750. It expects ample supply, competing edible oils and uncertain import demand to weigh on prices into 2025.
A higher forecast reflects firmer near-term prices, but BMI still sees bearish pressure from supply and the EU deforestation rules, with Middle East tensions as the main upside risk.
theedgemalaysia.comAug 21, 2024Not 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.
