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Analyst Dorab Mistry raised his 2019 Malaysian palm oil output forecast to 20 million tonnes from 19.5 million, citing record monthly output from January to March. He warned that ageing trees would limit production later in 2019 and that inventories in Indonesia and Malaysia are expected to fall to 6 million tonnes.
A larger expected Malaysian crop adds supply, but falling combined inventories and ageing-tree constraints later in the year offset that, so the net price effect is mixed to mildly supportive.
thestar.com.myThe Star Online29 avr. 2019Après 66 événements rapport neutre passés, Huile de palme a varié en médiane de +0,2 % sur 5 séances (58 % de hausses ; moitié centrale de -0,4 % à +2,0 %), et de +2,2 % sur 20.
Variations du benchmark de chaque matière depuis la dernière clôture avant l'événement. Les lectures historiques regroupent les événements passés de même nature ; elles décrivent ce qui s'est passé, pas ce qui arrivera. Ceci n'est pas un conseil en investissement.
Mistry's upgrade of 2019 Malaysian output to 20 million tonnes, citing record Q1 production, is the bearish supply catalyst, though the same note flagged ageing trees and falling inventories.
Raised 2019 Malaysian output forecast to 20 million tonnes on record Q1 output signals more supply and bearish sentiment.
