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FGV Holdings CEO Haris Fadzilah Hassan said the double hit to palm demand from the India trade dispute and the China coronavirus is likely temporary. He cited low production in January to March and said FGV expects orders from India to fall 10% to 15% in February and March, to be offset by other markets such as Pakistan.
Prices had rebounded that week on a Malaysian supply squeeze.
Expected tight first-quarter output and a shift of shipments to other buyers suggest limited downside for palm prices, though lower Indian and Chinese purchases remain a near-term drag.
mpi.gov.myFeb 11, 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.
