Palm Oil Price Up Driven By Holiady Effect

By CnAgri2013-09-11 11:37:58 Print Palm Oil: Palm oil price increased slightly this week. Price difference enlarged slightly between import cost of 24 degree palm oil and domestic spot price. Import cost to some extent prevented domestic spot price from declining. Driven by holiday effect, palm oil price is predicted to go strong with fluctuation in short terms. In the long run, however, since it is high yield season in both Indonesia and Malaysia, palm oil supply will increase. With normal import progress, it is predicted palm oil inventory in domestic ports shall keep at high level. It is predicted palm oil price shall go weak in the medium and long term. (Figure 12)

     

From “China Oil and Oilseeds Market Weekly Report”