Loading…
Palm oil prices have dropped to about 2,400 ringgit a tonne from 2017 highs of 3,300 as Malaysian and Indonesian production rebounded since October. Rabobank's Stefan Vogel expects global production to reach 70 million tonnes in 2017/18 against demand of about 65 million, but does not see prices falling much further.
Rebounding supply has pushed palm prices lower, though Rabobank expects a floor from demand that is stronger than reported figures suggest.
thegrocer.co.ukCarina PerkinsApr 12, 2018After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
