Loading…
Sime Darby Plantation's executive deputy chairman expects crude palm oil to reach RM2,500 per tonne by year-end. He cited rising biodiesel demand, higher consumption in China and India, and an Indonesian biodiesel mandate, after prices fell to a 52-week low of RM2,140 in July.
Expected biodiesel and import demand growth would support palm oil prices, although excess supply and high inventories still weigh on the market.
themalaysianreserve.comDayang NorazharSep 3, 2018Not 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.
Sime Darby's bullish year-end price forecast citing biodiesel and China/India demand likely lifted sentiment on the day.
