Login ID:
Password:
Partner Login
Contact Us : 7066511911

MIDF Expects Higher Palm Oil Inventory In Malaysia During Second Half Of 2019

11 Sep 2019 10:12 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

MUMBAI (Commoditiescontrol) - MIDF Research expects growth in export demand to taper off as India increased its import duty on Malaysian refined palm oil by 5 percent on Sept. 4.

The broker believes the weaker export demand outlook amid the high production season in 2H will cause inventory to go up, providing some resistance in the recovery of crude palm oil prices. MIDF maintains a negative view on plantation sector with an unchanged CPO target price of MYR2,090 a metric ton by end-2019.

Malaysia's palm oil inventory in August dropped 10 percent on year to 2.2 million metric tons, marking the first on-year decline since July 2017, as export demand grew at a faster pace than production mainly due to strong demand growth from India, latest data show.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   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
BMD Palm Falls Sharply Amid Concerns Over India's Restr...
Rapeseed – Canola (ICE) – Bullish Trend Reversal on the...
Rapeseed Meal (ZCE) – A Rally from Support at 2,200 is ...
Rapeseed (MATIF) – Short-term Pullback Within an Uptren...
Soy Complex – Soybeans (CBT) – Recent Strength Confirms...
more
Top 5 News
BMD Palm Falls Sharply Amid Concerns Over India's Restr...
Sudan/Russia/Burma Kabuli Chana Gains In Mumbai
Canada/Australia Masoor Extend Gains In Mumbai
Rapeseed – Canola (ICE) – Bullish Trend Reversal on the...
Rapeseed Meal (ZCE) – A Rally from Support at 2,200 is ...
Top 5 Special Reports
USD/MYR
USD/INR – Consolidating Between Support (Rs. 70.60) & R...
Weekly ICE Cotton: Ends Up As US, China Strike “Phase 1...
Weekly ICE Sugar: Ends Down On Brazilian Real’s Persist...
Weekly: Urad Skyrocket This Week
Copyright © CC Commodity Info Services LLP. All rights reserved.