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Edible oil analyst Thomas Mielke says Malaysian palm oil could fall to 2,100 ringgit a tonne in the medium term, near its weakest level since 2015. He expects China may import more palm oil if its soybean crushing is curbed by the trade dispute with the US.
He also slightly trimmed his output forecasts for Indonesia and Malaysia.
A lower price target reflects weak demand, while possible Chinese palm imports could offer some support if soybean crushing slows.
thestar.com.myThe Star OnlineJul 12, 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.
