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The Malaysian Palm Oil Council expects crude palm oil to trade between RM3,800 and RM4,200 per tonne in the second half of 2024. It cites slowing production growth in Malaysia and Indonesia, with a combined supply deficit of 200,000 tonnes in January to April.
Council officials expect steady Indian and Chinese demand, and possible tightening if Indonesia moves to B40 biodiesel blending in 2025.
Slower production growth and stable import demand point to firm palm oil prices in the second half. A possible B40 mandate in 2025 would further reduce exportable supply.
theedgemalaysia.comThe Edge MalaysiaAug 1, 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.
