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Malaysian Palm Oil Board (MPOB) expects Malaysian palm oil output to rise about 1.1% to 18.75 million tonnes in 2024 and year-end stocks to fall below 2 million tonnes. MPOB forecasts crude palm oil between MR3,900 and MR4,200 per tonne, citing labor shortages and limited exports from Indonesia.
Tighter Malaysian stocks and constrained Indonesian exports support palm oil prices, which lifts vegetable oil costs for feed formulators.
spglobal.comAditya KondalamahantyJan 11, 2024After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
