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Analysts at a Kuala Lumpur conference said global edible oil prices are nearing their peak but may fall slowly. Palm and soybean oil likely peaked at multi-year highs, but low stocks, constrained palm output from labour shortages, and weaker Chinese soybean oil output will limit the decline.
Malaysian palm futures topped 4,000 ringgit a tonne in mid-March for the first time since 2008.
Tight stocks and slow output recovery mean vegetable oil prices are likely to stay elevated for longer, keeping input costs high for feed and food processors.
kelo.comSyndicated ContentMar 24, 2021Not 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.
Analysts saying edible oil prices are nearing a peak reinforced bearish sentiment after the rally.
