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Reuters reports that the head of LMC expects Malaysian biodiesel production to reach 1.3 million metric tons this year and Indonesian output to reach 7 million tons. He expects palm oil stocks to fall by Q2 after two years of low inputs weigh on yields.
He sees European CPO prices at $570/mt FOB by mid-2020 but does not expect much price movement before the New Year.
Falling palm oil stocks and lower yields tighten the vegetable oil supply, which supports palm oil prices and the feed-fat and meal complex. The forecast implies little price movement until early 2020.
biofuelsdigest.comMeghan SappSep 26, 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.
