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Malaysia's state agency MPOC forecast crude palm oil prices at 3,700-4,200 ringgit per metric ton for the second half of 2023. It said prices could exceed 4,300 ringgit heading into 2024, citing uncertain sunflower oil supply from the Black Sea and below-expected Malaysian output.
Lower-than-expected Malaysian output and Black Sea sunflower oil uncertainty support the price outlook for palm oil and competing vegetable oils.
reuters.comAug 1, 2023After 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.
