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Malaysian RBD palm oil export prices hit a record above $1,300/MT FOB in October 2021, up 75% year on year. The rally is attributed to COVID-related labor shortages reducing harvests, tight global vegetable oil supplies and higher crude prices.
Record palm prices reflect a structural supply shortfall that keeps vegetable oil and feed-fat costs elevated. Expected 2021/22 production gains may eventually ease prices, but not immediately.
tridge.comMarket Intelligence Analytics TeamNov 15, 2021Not enough comparable past events yet for a historical read.
Not 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.
