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Hong Leong and AmInvestment research houses kept neutral stances on the Malaysian plantation sector, citing mixed prospects. HLIB maintained its 2024 CPO price assumption at RM4,000 per tonne, noting 2023 spot prices fell about 11% amid high stockpiles and weak demand.
Analyst views of a stable CPO price assumption and mixed demand signals suggest no strong directional catalyst for palm oil prices. Higher Malaysian and Indonesian output and weak European and Indian demand weigh on the outlook.
asia-palmoil.comAsia Palm Oil MagazineFeb 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.
