Palm Oil Will Stay Above 4,700 Ringgit Over Next Six Months
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Palm oil will likely ease over the next six months but remain above 4,700 ringgit ($1,124) a ton as supply constraints that have pushed prices to record highs are set to persist, according to LMC International.
It will take another 12 months before palm oil production in Southeast Asia recovers to end-2019 levels, Julian Conway McGill, LMC’s regional head, said in slides prepared for a seminar. This will imply three full years of zero growth as output from Malaysia and Indonesia shrank in 2020 and 2021, he said.