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A Global Oil & Fats Business outlook says 2020 should be a good year for palm oil prices after a rally from October 2019 that peaked above RM2,800 per tonne in December. It cites weak 2019 demand from India and China and EU RED II phase-out rules as earlier headwinds.
It also describes the CPOPC supply and demand conference.
Expectations of firmer prices and a supply-demand balancing effort could support palm oil values through 2020. The outlook is largely qualitative and does not change near-term supply.
gofbonline.comgofb-admFeb 21, 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.
