Market Price of Palm Oil to Remain Stable in S1 2021

It is predicted that the Palm Oil price will remain stable along with S1 2021 at RM 3,800. The high price level is due to market sentiment on supply constraint earlier this year (La Nina climate) and increasing demand from (1) China with the improved economic situation, (2) Saudi Arabia with the reopening of the Haj and Umrah pilgrimage, and (3) the Middle East in general with the upcoming Ramadhan season.