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Crude palm oil spot prices rose to about USD1,100 a tonne in July 2021 and have stayed near that level after falling below USD900 in June, driven by Malaysian labour shortages and weak output. Fitch expects 2021 average prices of about USD1,000 a tonne with a gradual decline from the fourth quarter.
Fitch's outlook for falling prices from late 2021 and Malaysia's plan to admit foreign workers point to easing palm oil supply pressure. Lower palm prices could reduce costs for vegetable oil and feed fat users.
brecorder.comReutersSep 28, 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.
