Palm prices seen firm until February

Dorab Mistry, (Filepic) the director of Indian consumer goods company Godrej International, unveiled a bullish outlook for the next five months, because of Indonesia’s high export levy and a peak in supply tightness expected at the start of 2022.

PANAJI: Malaysian crude palm oil prices, which have hovered near last month’s record highs, will stay firm until February, but start to ease from March, on rising output in the top two producer nations, leading industry analyst Dorab Mistry said.

Benchmark crude palm prices have jumped nearly a quarter this year, rallying for a third consecutive year as a pandemic-induced labour shortage crimped output in Malaysia, the world’s second largest producer.