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Analysts at MIDF Research and others argue that CPO prices would find support at RM2,500 per tonne, challenging LMC's RM2,250 year-end forecast. MIDF notes Malaysian output rose 21% year-on-year in February and that Indonesian biodiesel use of palm oil is increasing.
Malaysian palm oil imports fell 44% month-on-month in February.
The disagreement over the price floor shows the range of market views, and rising biodiesel demand could offset expected supply growth.
theborneopost.comApr 7, 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.
