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Malaysian Derivatives Exchange CPO prices rose above RM2,400 a tonne in late October and closed at RM2,422 on Friday. Spot prices climbed about 15% in roughly two weeks, to RM2,444 a tonne.
The analyst note questions whether the rise is sustainable given its speed, though seasonally higher 4Q and 1Q prices are expected.
A rapid rally in CPO prices lifts feedstock costs for vegetable oil and biodiesel users, and the seasonal low-production period suggests firmness may persist. Analysts' higher price assumptions for 2020 point to continued support for palm oil.
klse.i3investor.comAmInvestNov 4, 2019Not 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.
Documents the roughly 15% spot price surge over two weeks and seasonal support for higher prices.
