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FGV Holdings, the world's largest crude palm oil producer, forecast a significant drop in 2020 output because pandemic restrictions disrupted plantation and mill work. Malaysia's movement restriction order, in place until mid-May, has curtailed its workforce, and limits on logistics services will affect CPO movement and inventory.
FGV also expects lower processing volumes for export and bulk products.
Lower Malaysian palm output and reduced processing tighten near-term palm oil supply, which supports prices even as demand weakens. Restocking in China provides some offsetting demand.
energy.economictimes.indiatimes.comET EnergyWorldApr 29, 2020After 15 past bullish logistics events, Palm Oil moved a median -0.1% over 5 sessions (47% higher; middle half -2.4% to +3.9%), and +0.5% 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.
