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Analysts say crude palm oil prices are unlikely to return to recent lows in 2023 as production growth levels off. Oil World forecasts Malaysian output rising 300,000 tonnes and Indonesian output 2.2 million tonnes in 2023, with geopolitics, climate, inflation and recession risks clouding the outlook.
Slowing palm supply growth supports prices into next year, while macro and geopolitical risks could cap demand. The outlook suggests firmer palm prices versus the 2022 lows.
thejakartapost.comDivya KaryzaNov 7, 2022After 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.
