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A Fastmarkets analyst expects only a modest improvement in global palm oil output in 2024 and no strong demand catalyst for higher prices. Prices have fallen to about half their 2022 peak after easing from an April 2024 rebound, and Malaysian crude palm oil futures are expected to trade between 3,600 and 4,000 ringgit.
Expected range-bound prices and weak demand catalysts limit price support for canola and other vegetable oils from palm oil. The expected La Niña arrival could eventually boost palm output.
producer.comSean PrattJun 25, 2024Not enough comparable past events yet for a historical read.
Not 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.
