PALMOILMAGAZINE, KUALA LUMPUR – TA Research stated in its report that Malaysian Palm Oil Board (MPOB) stock data for August 2024 presents a neutral outlook. Without a key catalyst to boost demand, palm oil trade remains influenced by U.S. Federal Reserve interest rate policies and their impact on crude oil prices.
As cited by Palmoilmagazine.com from The Star on Thursday (19/9/2024), the institution expects crude palm oil (CPO) prices to remain around RM 4,000 per ton in 2024 and RM 3,800 per ton in 2025. However, this assumption could be revised if global soyoil supplies fall short of expectations or if demand rises significantly.
Meanwhile, CGS International (CGSI) Research reported that Malaysia’s palm oil production could peak between September and October 2024, with a potential slowdown in the fourth quarter.
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Besides, the Government of Indonesia is still considering the decreasing export tariff for its palm oil products that may make CPO cheaper in the short term. CGSI also stated that the decreasing export duties would increase the margins for the downstream sectors, namely in palm oil sector in Indonesia. (P2)
