Palm oil prices to rally in first half of 2021

"Look out for a La Nina-induced price rally from January 2021 with soyoil leading the way," said Dorab Mistry, (pic) director of Indian consumer goods company Godrej International. Vegetable oil prices next year should be higher due to improved demand and tighter supply of soft oils such as soyoil and sunflower oil, Mistry said.

KUALA LUMPUR/ MUMBAI: Palm oil prices are likely to jump in the first half of 2021, three leading industry analysts said in a webinar on Thursday, as La Nina weather pattern is set to hit edible oil supplies amid lower soybean crushing in Argentina and rising sunflower oil prices.

Heavy rainfall brought on by La Nina has started to disrupt output in Southeast Asian palm producing countries and will bring down global supply this year, said analyst James Fry.