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An LMC International analyst told an industry conference that benchmark palm oil prices will not rise above 3,300 ringgit in the first half of 2020. Prices had climbed 36% since October to a three-year high of 3,150 ringgit before pulling back on the India-Malaysia dispute.
The analyst said palm has lost its price advantage over sunflower and soy oils.
A price ceiling and lost competitiveness versus other oils could limit palm demand in importing markets. Buyers of palm-based ingredients may gain room to substitute other vegetable oils.
english.kontan.co.idWahyu Tri RahmawatiJan 16, 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.
