
Dorab Mistry said Malaysian palm oil stocks are likely to exceed 3 million tons by the end of October, which will weigh on prices. The benchmark fell 1.58% to 4,537 ringgit after reaching a near two-year high of 5,049 ringgit in mid-September.
Mistry also noted that Indonesia's planned 50% biodiesel blending mandate could tighten supplies.
Indonesia's biodiesel mandate would absorb more palm oil and support prices, while high inventories are the near-term constraint. The net effect leaves palm oil prices range-bound.
Setelah 513 peristiwa kebijakan netral sebelumnya, Minyak Sawit bergerak median 0,0% selama 5 sesi (50% lebih tinggi; separuh tengah -1,6% sampai +1,4%), dan -0,1% selama 20 sesi.
Setelah 187 peristiwa kebijakan netral sebelumnya, Minyak Mentah (WTI) bergerak median -0,1% selama 5 sesi (49% lebih tinggi; separuh tengah -4,0% sampai +3,5%), dan +0,1% 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.
Mistry's view that Malaysian stocks will exceed 3 million tons caps prices, and the retreat from the mid-September high of 5,049 ringgit shows bearish stock sentiment.
Same-day analyst view that Malaysian stocks will exceed 3 million tons weighs on prices, with the benchmark down sharply from mid-September highs (supply and sentiment).