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Palm oil is expected to recover in the second half of 2020 as lockdowns ease and China and India rebuild stocks. The Malaysian Palm Oil Council forecast a peak of RM2,594 per tonne, conditional on biodiesel mandates proceeding and European oilseed output falling.
Prices had dropped 23% so far this year versus 18% for soyoil.
Improving demand and biodiesel mandates support palm prices, which can pull up vegetable oil costs for feed producers.
freemalaysiatoday.comBloombergJun 30, 2020
thestar.com.myThe Star OnlineJul 1, 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.
