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RAM Ratings expects CPO prices to soften to RM2,300-2,500 per tonne in 2018, down from RM2,783 in 2017. Malaysian output rose 15% and Indonesian output 17% in 2017, and both countries hold high inventories.
Malaysia's export tax suspension is expected to lift exports in the interim.
A forecast of rising production outpacing demand and high stocks points to bearish pressure on palm oil prices through 2018.
ram.com.myFeb 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.
