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FGV's chief executive said the CPO export tax suspension is timely given high stock levels and a stronger ringgit that pushed prices near RM2,500 per tonne. FGV expects 30-50% higher export volumes to India, Pakistan, China and Europe and projects first-quarter 2018 CPO prices at RM2,650 to RM2,750 per tonne.
The company also cited Chinese New Year demand.
A producer forecast of 30-50% higher exports and a rebound to RM2,650-2,750 suggests tighter export availability and firmer Malaysian palm prices in the first quarter.
theborneopost.comchinJan 9, 2018After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
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.
