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RHB maintains an underweight call on plantation stocks, expecting palm oil prices to moderate in 2022 as supply and demand improve. It flags a La Niña risk in 4Q21 and 1Q22 that could keep prices higher for longer.
Malaysian production was down 9% year-on-year through September.
A forecast of easing vegetable oil fundamentals in 2022 points to lower palm oil prices, although La Niña weather risk could delay that correction.
businesstoday.com.myNov 5, 2021After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% over 20.
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.
