Palm Oil Prices May Trade Downward To Neutral Bias

palm oil


Palm oil forecaster Abdul hameed

Abdul Hameed Analyst Palm oil market should continue to be slightly on a downtrend to neutral bias now.

As exports might be positive in March but looks like it is not going to help the prices as production might put a dent on prices from going up.

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While BMD has retracted back from the high during POC and it is getting into a neutral level now. However, physical prices seemed to be slowed in retracting back

Moreover Hameed said, forsee it might be coming soon, China demand is quite slow at the moment and with the current DCE level, most can’t even hedged their position unless some aggressive seller is able to sell their product cheaply.

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India stock level is quite high and prices is also not helping importers. Hence, I would say prices in BMD is on the neutral side at current level. The range will remain unchanged at 3700-4200 level.

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