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Southeast Asian palm oil stocks are expected to hit record highs in October or November, according to a Reuters poll of planters, traders and analysts. Indonesian stocks are seen peaking near 5 million tonnes, and Malaysian stocks at about 2.8 million tonnes.
Benchmark palm prices recently fell to a three-year low.
Record inventories at the two largest producers add supply pressure and point to weaker palm oil prices, which can pull down competing vegetable oils and feed-related fats.
business-standard.comReutersSep 27, 2018Not 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.
Reuters poll showing Southeast Asian palm stocks heading for record highs in Oct/Nov adds bearish supply pressure, with prices already at multi-year lows.
