Palm oil prices in China are expected to show steady growth in the near future.
Palm oil prices are likely to rise steadily, supported by high soybean oil prices boosting palm oil’s cost advantage and India’s demand shift. Improving Malaysian fundamentals, expected production declines, potential inventory drawdowns, and optimism around Meishengchai’s policy are strengthening overall market sentiment.
National Grain and Material Reserves Data Center News: Palm oil prices are expected to show steady growth in the near future.
Main reasons: Firstly, recent high international soybean oil prices have highlighted the cost-effectiveness of palm oil and India’s import demand may shift towards palm oil.
Secondly, Malaysian palm oil market fundamentals continue to improve, increasing the likelihood of inventory drawdowns by the end of the month. Furthermore, February is a busy month for Malaysians, and palm oil production is expected to decline further.
Third, the market is optimistic about Meishengchai’s policy, and relevant news before its implementation will further improve market sentiment.
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Source : Ukr Agro Consult
