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Fitch Solutions Macro Research forecast strong Chinese and Indian import demand for palm oil in the coming months. It kept its 2019 average forecast at 2,150 ringgit per tonne and projected 2020 at 2,300 ringgit.
The firm also cited possible El Niño-related dryness in Malaysia and Indonesia that could slow production growth.
Robust import demand and slowing output growth support palm oil prices, which keeps vegetable oil costs elevated for feed formulators.
xinhuanet.comSep 18, 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.
