Palm Oil Set To Plunge 20% By September, Top Analyst Predict

0 36

The world’s most consumed cooking oil Palm oil may extend its slide, tumbling more than 20% to 3,000 ringgit $673 a ton by September, driven by surging supplies in Indonesia.

Veteran analyst Dorab Mistry director at Godrej International Ltd. said made this statement in an interview on Tuesday. 

Inventories in top exporters Indonesia have swollen to 10 million tons and will continue to increase in August because of high production, before stabilizing at around 9-10 million tons in September.

In May, Mistry correctly predicted an earlier price slide, saying that Indonesia easing its export ban was only a matter of time.

Thepeninsulaqatar

Leave A Reply

Your email address will not be published.

%d bloggers like this: