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Malaysia's plantation minister said crude palm oil prices are not expected to fall below RM4,500 a tonne. She said the market has settled into a new norm of RM4,500 to RM5,000 after prices fell 25.3% from June 7 to June 22.
She also said the government would act against cooking oil sellers found hoarding for the black market.
The official price floor view is a sentiment signal rather than a supply change, so its direct effect on palm prices is limited. Traders may still treat it as a reference range for the near-term market.
malaymail.comJul 3, 2022Not 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.
