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Analyst Dorab Mistry expects Malaysian palm oil to reach 3,300 ringgit per tonne by early March because stocks remain tight. He forecasts a fall of nearly a quarter by June or July to around 2,500 ringgit.
Prices were at multi-year highs, with lingering El Nino effects cutting production.
Tight stocks and weak output support near-term palm prices, while the forecast of a sharp mid-year decline suggests a volatile path that affects feed-fat buying timing.
asiatimes.comReutersJan 22, 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.
