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Malaysian palm oil futures on Bursa Malaysia jumped in late July, with the October contract closing at MYR 4,422/mt on July 27, its highest since May 19. Analysts cite lower-than-expected July output from lower oil yields and labour shortages, and expect a decline in ending stocks after four months of gains.
Crude palm oil output for the first half of 2021 was down 8% year on year, and analysts see Malaysia's 2021 output possibly the lowest since 2017. Tighter vegetable oil supply supports prices for palm oil and competing soy oil, which feeds into the cost of feed fats.
fastmarkets.comLiliana MintonJul 27, 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.
