Experts expect lower prices for palm oil in Malaysia
Prices for Malaysian crude palm oil (CPO) may drop by about 6-12% by April, according to analysts at the MPOC National Council. According to their estimates, next month the range will be 3,800-4,000 ringgit per ton, compared to 4,250 ringgit in March.
According to experts, the decline will be due to the abundant supply of soybeans from South America to the world market, as well as the gradual recovery of palm oil production in Malaysia.
MPOC clarifies that the expected growth of palm oil stocks in April-May will put some pressure on the CPO price.
In addition, according to the industry association, in 2024, the world production of palm oil will increase minimally – only by 0.11%, while the growth of soybean oil production will be 2.88%, rapeseed oil – 3.48%, and sunflower oil – 3.94%.
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