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UOB Kay Hian's palm oil seminar expects crude palm oil to trade at US$530-550 per tonne, recovering from a low near US$470. Analysts cited Indonesia's B30 biodiesel mandate, around 500,000 tonnes of extra Indian demand, and Chinese imports possibly rising due to African swine fever and the US-China trade war.
Higher biodiesel demand and extra Chinese and Indian imports support palm prices, but timing depends on government policy and vegetable oil stock levels.
research.sginvestors.ioSGinvestorsMay 17, 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.
