# Fitch Revises 2021 Palm Oil Price Upwards But Bearish On 2022 Outlook

> Fitch raised its 2021 palm oil price forecast to MYR3,400 per tonne from MYR3,050, citing high demand, lower output and elevated oilseed prices. It expects a softer 2022 outlook and warns that Indian lockdowns could cut demand.

- Date: 2021-04-29 · published 2021-04-29T12:00:00.000Z
- Category: report · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/47699-fitch-revises-2021-palm-oil-price-upwards-but-bearish-on-2022-outlook
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A higher price forecast signals firm vegetable oil costs for feed buyers through 2021, while the bearish 2022 view points to possible easing later.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| PALMOIL | 2017-09-24 | [RAM Ratings revises average CPO price forecast upwards \| Borneo Post Online](https://feedsoft.ai/events/68830-ram-ratings-revises-average-cpo-price-forecast-upwards-borneo-post-online.md) | -0.3% | -2.4% |
| PALMOIL | 2021-11-02 | [Moody’s revises upward 2022 CPO price sensitivity range to RM2,800-RM3,200 per tonne](https://feedsoft.ai/events/9233-moody-s-revises-upward-2022-cpo-price-sensitivity-range-to-rm2-800-rm3-200-per.md) | -1.5% | -0.4% |
| PALMOIL | 2017-12-06 | [Industry Review: Palm Oil Price and Output Expected to Pick Up in 2018 - The Insiders Stories](https://feedsoft.ai/events/67569-industry-review-palm-oil-price-and-output-expected-to-pick-up-in-2018-the.md) | -3.6% | +1.5% |
| PALMOIL | 2022-01-12 | [Palm oil imports to dip in 2021-22 on lower Malaysia exports, converging vegoil prices: US FAS](https://feedsoft.ai/events/43229-palm-oil-imports-to-dip-in-2021-22-on-lower-malaysia-exports-converging-vegoil.md) | +2.6% | +11.7% |
| PALMOIL | 2019-11-01 | [Malaysian palm oil production to drop slightly in 2020, pushing the price upward, says expert \| Malay Mail](https://feedsoft.ai/events/4290-malaysian-palm-oil-production-to-drop-slightly-in-2020-pushing-the-price-upward.md) | +12.8% | +16.7% |
| SBO | 2021-11-02 | [Moody’s revises upward 2022 CPO price sensitivity range to RM2,800-RM3,200 per tonne](https://feedsoft.ai/events/9233-moody-s-revises-upward-2022-cpo-price-sensitivity-range-to-rm2-800-rm3-200-per.md) | -4.4% | -8.0% |
| SBO | 2023-11-14 | [CBOT Soybean Oil Rises, Argentina Forward Prices Up](https://feedsoft.ai/events/33254-cbot-soybean-oil-rises-argentina-forward-prices-up.md) | +2.6% | -1.2% |
| SBO | 2022-01-12 | [Palm oil imports to dip in 2021-22 on lower Malaysia exports, converging vegoil prices: US FAS](https://feedsoft.ai/events/43229-palm-oil-imports-to-dip-in-2021-22-on-lower-malaysia-exports-converging-vegoil.md) | -0.8% | +4.6% |

## Sources

- businesstoday.com.my: https://www.businesstoday.com.my/2021/04/29/fitch-revises-2021-palm-oil-price-upwards-but-bearish-on-2022-outlook/

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