
The Malaysian Palm Oil Council forecast that Malaysian palm oil stockpiles will stay low in 2021 on strong Chinese demand and a lower Indian import duty. It projected Malaysian output of 19.6 million tonnes and an average benchmark price of 3,217 ringgit a tonne, up from 2,700 in 2020.
It also expected Indonesian exports to fall by 500,000 tonnes because of its higher export levies.
Tighter Malaysian stocks and firm demand support palm oil prices, and lower Indonesian exports would tighten global vegetable oil supply, which supports competing oils and meal values for feed buyers.
Setelah 149 peristiwa laporan bullish sebelumnya, Minyak Sawit bergerak median +0,5% selama 5 sesi (57% lebih tinggi; separuh tengah -1,1% sampai +1,8%), dan +0,8% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
MPOC forecast of low stocks on strong Chinese demand and lower Indian duty supports a higher price outlook and bullish sentiment.