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Malaysian crude palm oil settlement rose to a high of 3,789 ringgit a tonne on June 30, up 18% within the month. The gain was attributed to a weaker ringgit and tracking of soyoil after the USDA report.
Fitch Ratings expects spot prices to decline over the next 12 months.
Palm prices rallied on currency and soyoil spillover, but Fitch expects rising output to pressure prices over the coming year. Soyoil export prices have also softened.
megalac.comJul 4, 2023Not enough comparable past events yet for a historical read.
Not 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.
