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Sime Darby Plantation, the world's largest palm oil planter, forecast Malaysian and Indonesian crude palm oil output would recover in 2021 from 2020 declines. It projected average prices of RM3,100 a tonne in the first half and RM3,000 in the second half.
Expected output recovery and lower forecast prices suggest easing palm oil supply tightness later in 2021, a modestly bearish signal for vegetable oil prices.
businesstimes.com.sgFeb 18, 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.
