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RAM Ratings raised its 2021 crude palm oil price forecast to RM3,200 per tonne from RM2,300-2,500. The firm cited sturdy demand and tight vegetable oil supply, noting CPO averaged RM3,831 in early 2021 and 2020 output fell 4%.
A higher palm price forecast reflects tight vegetable oil supply, supporting palm and soyoil prices and raising costs for feed buyers using vegetable oil-based inputs. The firm still expects prices to ease in the second half as output recovers.
ram.com.myMar 11, 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.
