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Paspi executive director Tungkot Sipayung says palm oil prices are now driven more by substitute products and energy substitution programs than by crude oil. He expects prices to ease toward year-end on large US, Indian and Chinese soybean harvests, but to rise to $720-760 per tonne in 2017 from $700 last year.
Substitution competition from soy and rapeseed caps palm's upside, while biodiesel mandates in China and the US could support prices into 2018.
investor.idJul 5, 2017Not 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.
