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Singapore-based Palm Oil Analytics expects CPO futures to hold RM2,800-2,900 a tonne and possibly reach RM3,000 if October and November production falls. The firm projects Malaysian 2020 output down 1.8% to 19.5 million tonnes and exports down 8% to 17 million tonnes.
Prices are forecast to ease slightly in early 2021.
A forecast decline in Malaysian output through year-end would tighten vegetable oil supply and support palm prices. Lower exports to India also weigh on demand for palm and substitute oils.
malaymail.comOct 27, 2020Not 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.
