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MIDF Research expects the ringgit to keep appreciating, averaging RM4.20 and ending 2023 near RM4.00 per US dollar. The forecast rests on Malaysia's upbeat domestic economy and its net commodity exporter status.
The ringgit had recovered from about RM4.75 in November 2022 to RM4.24 in late January before weakening to around RM4.50 by mid-March.
A stronger ringgit lowers the local cost of imported feed ingredients priced in dollars, but palm oil and other commodity export earnings are also affected by currency moves. The effect on feed prices is modest.
malaymail.comMar 31, 2023Not 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.
