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LMC International chairman James Fry forecasts crude palm oil prices could fall to about RM2,250 per tonne by year-end as Malaysian production recovers after El Niño. He projects 2017 Malaysian output at 22.5 million tonnes, up more than 5 million from 2016.
He also cites good rapeseed, soybean and sunflower oil supplies and weaker EU demand after the European Parliament's sustainability resolution.
A forecast production rebound and rising stocks point to lower palm oil prices, which lowers the cost of palm-based feed ingredients over the coming months.
theborneopost.comchinApr 6, 2017Not 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.
