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Kenanga Research raised its 2020 CPO price forecast from RM2,400 to RM2,700 per tonne and expects prices to trade between RM2,700 and RM3,100 in the first half. The forecast cites continued production decline, biodiesel mandates in Indonesia and Malaysia, and a wider soyoil-palm oil premium.
A higher analyst price outlook reflects expected tightness in vegetable oil supply, pointing to firmer palm oil prices and some support for soyoil.
theborneopost.comeditoronJan 2, 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.
Kenanga's raised 2020 CPO forecast, citing falling production, Indonesian and Malaysian biodiesel mandates and a wider soyoil-palm premium, supports bullish sentiment and fundamentals during the rally window.
