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A Reuters poll of industry participants projects benchmark palm oil prices will average 2,650 ringgit a tonne in 2020, up 17.9% from 2019. The median forecast reflects reduced first-half output and higher biodiesel use in Indonesia and Malaysia.
Respondents expect supplies to rebound later in the year.
Tighter first-half supply and biodiesel demand support vegetable oil prices, which raises the cost of palm-based feed ingredients. Expected second-half supply recovery limits the upside.
financialpost.comReutersJan 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.
