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Oil World's Thomas Mielke said world palm oil output is likely to rise 3.2 million tonnes in the October 2020 to September 2021 season, with Indonesia up 3.3 million and Malaysia down 500,000 tonnes. LMC International's James Fry expects Malaysian palm prices may fall to RM3,300 per tonne by Q4.
A global production rebound and expected recovery in stockpiles point to softer palm prices later in 2021, though tight supplies should limit declines. Buyers should expect prices to come under pressure in April-June.
beta.malaymail.comMar 24, 2021After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
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.
