# Palm may rise 10% before dropping on supply recovery - Mistry | The Star

> Analyst Dorab Mistry said palm oil could rise about 10% by Q1 2017 before falling as stockpiles recover. Benchmark prices have surged roughly 20% this year on a weaker ringgit and strong rival edible oil markets, hitting a four-year high of 3,098 ringgit on Thursday. He forecast a 3,000-3,300 ringgit range through March and a decline toward 2,400 ringgit by June 2017 as El Niño-hit production recovers.

- Date: 2016-11-25 · published 2016-11-25T12:00:00.000Z
- Category: market · region Malaysia · magnitude medium
- Page: https://feedsoft.ai/events/73939-palm-may-rise-10-before-dropping-on-supply-recovery-mistry-the-star
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A forecast peak then decline in palm prices signals firmer near-term costs for palm-based feed ingredients such as palm kernel and oil before easing into mid-2017. Weak ringgit, soyoil strength and US biodiesel mandates are the cited support factors.

## Read by commodity

- SBO: bullish ▲
- PALMOIL: bullish ▲

## Sources

- thestar.com.my: https://www.thestar.com.my/business/business-news/2016/11/26/palm-may-rise-10-pct-before-dropping-on-supply-recovery/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.