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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 apr 2019Na 66 eerdere neutraal rapport-gebeurtenissen bewoog Palmolie zich mediaan +0,2% over 5 sessies (58% hoger; middelste helft -0,4% tot +2,0%), en +2,2% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
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.
