Is it possible to hit 3400 and sustain above 3000 per tonne???? Hell Yeah!!
Lets take a look...1..2..3 ZZaaazzz~~
The global demand for palm oil is expected to contract by four per cent or 3.2 million tonnes due to the impact from COVID-19
Demand for palm oil stood at 71.48 million tonnes which leads to China’s palm oil demand and recovery post-pandemic..
.
.
For some reason..
1 - It was reported that Malaysia is losing up to 25 per cent of its potential palm oil yield due to the labour shortage. As the world’s second largest palm oil producer, Malaysia relies on workers from countries such as Indonesia and Bangladesh, where they account for 84 per cent of its plantation workforce.
2 - Palm oil production is also facing lower growth due to the rainy season, a drop in fertilizer application, the decline in replanting activities as well as aging palm trees
3 - Major palm oil importing and consuming countries are also facing double reduction in imports and consumption this year
4 - USDA report for Soybean and Soybean oil is bullish. Today we shall see prices going up in the domestic market. On CBOT, Soybean trading up by +3% and Soy oil up by 1.5%
.
.
.
Till Then, Happy Trading & TAYOR
Stay safe everyone..
Together we flatten the curve
If you like this analysis, please make sure to like the post!
I would also appreciate it if you could leave a comment below with some original insight.
Lets take a look...1..2..3 ZZaaazzz~~
The global demand for palm oil is expected to contract by four per cent or 3.2 million tonnes due to the impact from COVID-19
Demand for palm oil stood at 71.48 million tonnes which leads to China’s palm oil demand and recovery post-pandemic..
.
.
For some reason..
1 - It was reported that Malaysia is losing up to 25 per cent of its potential palm oil yield due to the labour shortage. As the world’s second largest palm oil producer, Malaysia relies on workers from countries such as Indonesia and Bangladesh, where they account for 84 per cent of its plantation workforce.
2 - Palm oil production is also facing lower growth due to the rainy season, a drop in fertilizer application, the decline in replanting activities as well as aging palm trees
3 - Major palm oil importing and consuming countries are also facing double reduction in imports and consumption this year
4 - USDA report for Soybean and Soybean oil is bullish. Today we shall see prices going up in the domestic market. On CBOT, Soybean trading up by +3% and Soy oil up by 1.5%
.
.
.
Till Then, Happy Trading & TAYOR
Stay safe everyone..
Together we flatten the curve
If you like this analysis, please make sure to like the post!
I would also appreciate it if you could leave a comment below with some original insight.
