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Local investment banks in Malaysia forecast palm oil could reach $617 per metric ton by midyear, up from about $565 currently. They cite diminishing soybean oil supplies in Argentina and the US, with soyoil up 8% so far this year and Ramadan demand already being priced in.
Tighter soyoil supplies support substitute vegetable oils, so palm oil prices are expected to firm. This is a forecast rather than a new supply shock, which limits its immediate price impact.
biofuelsdigest.comMeghan SappApr 16, 2018Not 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.
