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DBS Research says Malaysia's December 2020 crude palm oil stockpile fell to 1.3 million tonnes, down 37% year on year, as exports held firm at 1.6 million tonnes. Analysts expect tight supply to keep prices high early in 2021.
They also highlight Indonesia's progressive export levies as supporting its biodiesel programme.
Low palm oil stocks and firm export demand tighten global edible oil supply and support prices into early 2021. Buyers should expect palm-based feed ingredient costs to remain elevated.
research.sginvestors.ioSGinvestorsJan 11, 2021After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
