Login ID:
Partner Login
Contact Us : 7066511911

Palm Oil May Climb to 2,400 Ringgit By End-March: Dorab Mistry

6 Feb 2019 5:26 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI (Commoditiescontrol) - Veteran industry analyst Dorab Mistry on Wednesday maintained his earlier forecast that palm oil prices in Malaysia, the world’s second-biggest producer, may climb to 2,400 Ringgit a tonne by the end of March if the Malaysian currency remains at current levels.

Palm oil stockpiles in Malaysia and Indonesia may decline to about 6 million tonnes by April-May, Mistry, a director of Godrej International, said in slides for a presentation at an industry conference in Gurugram, Haryana.

Other major highlights of his presentation

*From March, futures may become inverted (Note: In futures markets, an inverted market occurs when near maturity contracts are higher in price than far maturity contracts)

*Palm production as measured in yields may only bottom in April and recovery will be slower than usual

*Price outlook for all vegetable oils will depend on consumption of bio-diesel

*Global bio-diesel consumption may total 44 million tonnes in 2019

*World vegetable oil supply to rise by 5.5 million tonnes in 2018-19 vs 7 million tonnes of incremental demand

*India’s total vegetable oil imports may climb to 15.7 million tonnes in 2018-19, up from 15.026 million tonnes a year earlier

*China’s soybean crushing in 2019 may exceed those in 2018

*U.S.-China trade spat unlikely to affect China’s soybean imports in 2019 as the Asian country has found new sources

*Maintains Malaysia’s 2019 palm output at 19 million tonnes to 19.5 million tonnes vs 19.5 million tonnes a year earlier

*Indonesia’s production in 2019 at 44 million tonnes vs 42 million tonnes

(By Commoditiescontrol Bureau)

  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  

Top | Post Comment  

Latest Market Commentary
NCDEX Soybean Traded Flat on Lack of Strong Fundamental...
Mustard Prices Continues to Stay Up on Declining Arriva...
Brazilian Truckers Call Off Strike After government Ass...
BMD Palm Stages Recovery In Afternoon Trade, Ends In Gr...
India Soybean Arrivals As On 24 Apr
Top 5 News
NCDEX Soybean Traded Flat on Lack of Strong Fundamental...
Spot Pepper Continues To Gain On Short Supply
Mustard Prices Continues to Stay Up on Declining Arriva...
Icex Rubber Closing Price - 24 April 2019
NAFED Procures 4215.38 MT Urad In Rabi-2019 Season So F...
Top 5 Special Reports
Technical: Chickpea (Chana) Indore
Technical: Pigeon Pea (Tur) Akola Bilty – Expect Ri...
Technical: Chickpea (Chana)- Indore- kabuli 42-44 count...
Technical: Mustard Cake- Sideways Volatility May Be ...
Technical: Moong/Green Peas Jaipur– Pullback Is Being ...
Copyright © CC Commodity Info Services LLP. All rights reserved.