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The Malaysian Palm Oil Council forecasts Malaysian palm oil prices to average about RM2,303 a tonne in 2019, roughly steady. It expects global output to rise by 3 million tonnes to 72 million, with Malaysia at 20.2 million tonnes and Indonesia at 42.8 million tonnes.
Rising output from Malaysia and Indonesia, plus a possible El Nino curbing yields, sets the supply balance that caps palm price gains. Buyers of palm-based feed ingredients should expect limited upside.
freemalaysiatoday.comReutersFeb 18, 2019After 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% over 20.
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.
