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Malaysian palm oil producers face negative sentiment from the US-China trade war, European biofuel policy uncertainty, and elevated oil palm stockpiles. Malaysian palm oil futures edged lower to 1,998 ringgit per tonne on June 21.
Analysts note the price cycle is shortening, with the recent recovery from November 2018 to February 2019 lasting only four months.
Persistent stock overhang and a narrowing price cycle suggest limited near-term upside for palm oil, keeping vegetable oil feed input costs subdued.
theborneopost.comeditoronJun 22, 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.
