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Malaysia: Experts expect crude palm oil prices to decline in 2023, which will limit the rise in sunflower oil prices

Updated Jan 12, 2023
Malaysian experts expect crude palm oil (CPO) prices to decline in 2023 under the pressure of increased supply and falling demand.
The fall in palm oil prices in 2022 has significantly increased the pressure on soybean and sunflower oil quotes, even despite the supply problems that have arisen during the year. Currently, March palm oil futures on the Malaysian exchange are trading at 3,909 ringgit/t or $895/t, and March Chicago soybean oil futures are at $1,379/t, while sunflower oil demand prices for delivery to buyers fell to $1230/t CIF against the backdrop of reduced demand from India and China. Experts at the Malaysian investment group Affin Hwang Investment Bank believe that for some time SRO prices will be 3,700-4,000 ringgit/t, or $846-914/t, given the reduction in production in Indonesia and Malaysia during the monsoon period, and then start to fall to against the background of increasing world production of eight main vegetable oils and the recession of world markets. And the average price of SRO in 2023 will be 3100-3200 ringgits/t or $709-732/t. According to experts, many factors will determine ...
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