Loading…
Malaysia's Ministry of Plantation Industries and Commodities expects crude palm oil prices to rise to RM2,500-2,600 per tonne by year-end. The minister cited stronger demand from the Middle East, Africa and the Philippines despite Covid-19.
The physical price was RM2,860 per tonne, and the country targets RM65-70 billion in 2020 palm oil export earnings.
Official confidence in demand supports the price outlook, though the forecast is a government view rather than a market shift. Buyers should watch whether export demand confirms the expected gains.
theborneopost.comNurasyiqynnAug 4, 2020Not 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.
