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S&P Global expected Asian palm oil prices to stay firm into 2021 on supply concerns and possible demand recovery tied to COVID-19 vaccine progress. It cited lower first-quarter 2021 production forecasts and Indonesia's decision to keep the B30 biodiesel mandate.
Competing vegetable oils were also seen supporting prices.
Firm palm prices and biodiesel mandates tighten vegetable oil supply, supporting soybean oil and palm-linked feed costs.
spglobal.comDec 31, 2020Not 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.
