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Anglo-Eastern Plantations said crude palm oil prices are expected to be weak for the rest of 2022, citing seasonal high production in Southeast Asia. The group pointed to Indonesia's extension of its export levy waiver to end-2022, which aims to reduce palm oil stockpiles.
Palm futures nonetheless extended a surge to their highest since August.
Seasonal output peaks and Indonesian stock reduction through export waivers add supply that may cap palm prices despite near-term rallies tied to rival oils.
grainpricenews.comMike VerdinNov 2, 2022Not 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.
