Loading…
A USDA update projects global palm oil output in 2023/24 at a record 79.5 million tonnes, up nearly 2%, with Malaysia's output seen at 19 million tonnes, up 613,000 tonnes. The article notes that new plantings take 3-4 years to yield and that RED II limits on palm-based biofuels will constrain expansion.
A record global output forecast adds supply that caps palm price gains, though slow plantation growth limits how much the surplus can expand.
renewable-carbon.euApr 24, 2024After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
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.
