Malaysia: Asian crude palm oil watch in the first quarter of 2023

게시됨 2023년 3월 24일

Tridge 요약

In the first quarter of 2023, Malaysian benchmark crude palm oil (CPO) spot prices have seen a average of around USD915 per tonne, a significant decrease from the average of around USD1,175/t in 2022. However, this is an improvement from the end-September 2022 level of around USD700/t and the last 10-year average of USD730/t. The lower prices are due to market expectations of increased biodiesel consumption in Indonesia and lower exports, as well as the impact of heavy rainfall in 2023 on output. Despite these factors, it is expected that prices will weaken later in the year due to higher supply of palm and other vegetable oils. Additionally, the article notes that yields in Malaysia and Indonesia are improving, with Malaysia's CPO output increasing by 10% in 2Q23 and Indonesia's palm oil production increasing by 11% in 4Q22.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of around USD1,175/t in 2022, but a marked improvement from the end-September 2022 level of around USD700/t and the last 10-year average of USD730/t. Prices have been supported by market expectations of significantly higher biodiesel consumption in and lower exports from Indonesia, and the impact of heavy rainfall at the start of 2023 on output. We expect CPO prices to weaken later in the year, driven by higher supply of palm and other vegetable oils due to favourable weather conditions. Our assumption of USD850/t for 2023 implies that prices will decline to below USD700/t by year-end, and we expect further weakness in 2024. A hit to sunflower seed oil supply due to the Russia-Ukraine war is a key upside risk to our expectations. Yields Improving, Labour Crunch Easing Latest production data ...

출처: Hellenic Shipping News