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Veteran analyst Dorab Mistry said palm oil's rally will accelerate as biofuel demand rises while output falls. He suggested Malaysian benchmark futures could reach 2,700 ringgit per ton by March, about 40% above the July low.
He pointed to Indonesia's B30 biodiesel program as the key driver.
Biodiesel mandates divert palm oil away from food and feed uses, tightening supply and supporting prices for palm and other vegetable oils. Higher vegetable oil prices raise the cost of oil-based feed ingredients.
thestar.com.myThe Star Online1 nov 2019Dopo 548 eventi politica rialzista passati, Olio di palma si è mosso in mediana di +0,4% in 5 sedute (61% in rialzo; metà centrale da -0,7% a +2,1%), e di +0,9% in 20.
Dopo 842 eventi politica rialzista passati, Olio di soia si è mosso in mediana di +0,2% in 5 sedute (52% in rialzo; metà centrale da -1,6% a +2,1%), e di -0,5% in 20.
Variazioni del benchmark di ciascuna materia prima rispetto all'ultima chiusura prima dell'evento. Le letture storiche raggruppano eventi passati dello stesso tipo; descrivono ciò che è accaduto, non ciò che accadrà. Non è consulenza di investimento.
Dorab Mistry's bullish call (2,700 ringgit by March, citing Indonesia's B30 biodiesel demand and falling output) was published on the move date and plausibly fueled buying sentiment.
Same Mistry forecast reported by The Star, reinforcing biodiesel-driven demand and supply-tightness sentiment.
Mistry's bullish call, built on Indonesia's B30 biodiesel demand and falling output, fed sentiment and speculative buying.
Dorab Mistry's bullish call (B30 biofuel demand rising, output falling, 2,700 ringgit target) fed rally sentiment, though published around the move's end date.
