# Palm oil rally 'to run out of steam', sapped by waning Indian imports - Grain Price News

> Rabobank raised its quarter-average Kuala Lumpur palm oil price forecast for late 2022 by 500 ringgit per tonne and lifted 2023 expectations. The bank still expects the October palm rally to fade because Malaysian inventories, which hit a near three-year high, will stay elevated and Indian imports are declining.

- Date: 2022-10-28 · published 2022-10-28T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/39236-palm-oil-rally-to-run-out-of-steam-sapped-by-waning-indian-imports-grain-price
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Expected high Malaysian stocks and weaker Indian demand point to limited upside for palm oil, and the bank's forecasts remain below futures pricing. Softer palm prices can also weigh on competing vegetable oils.

## Read by commodity

- PALMOIL: bearish ▼

## Sources

- grainpricenews.com: https://grainpricenews.com/2022/10/28/palm-oil-rally-to-run-out-of-steam-as-indias-imports-wane/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.