Palm oil Market May Trade Between 3700 – 4200 Ringgit ; Analyst Abdul Hameed

COMMODITY(B-TRAMS): Malaysian Palm oil trade exports eased 1.99 per cent in Feb 23, to 1.11 million tonnes from 1.13 million tonnes in Jan 23, while palm oil stocks slumps by 6.56 per cent to 2.11 million tonnes in Feb 23 from 2.26 million tonnes recorded.

Also Read : Palm oil Stocks Slumps 6.56% In Feb ; MPOB

Where, Analyst “Abdul Hameed” Director of sales in Manzoor Trading Co. Lahore, Pakistan said; The MPOB Feb 23 data is neutral to him, 

He said,  the palm oil Production, Exports and Ending stocks trade as per his  expectations. Production in March should be up and potentially may surges upto 15%.

Also, He  expecting that  production around 5%-8% surges at the moment. And export in march may also up against what’s Market expectation.

Also Read : Palm Oil Imports May Jump In Indian On Lower Prices

Moreover, He predict that, Palm oil Prices May under pressure and should hoover around 3700-4200.while the ending  stock should increase to around 2.3-2.35 Mln Tonnes  

He also point out the ‘Weather” is still a watchable factor  where the good thing  is that there’s no major flooding situations in the production area .

He, also forecast that the production in the next 3-6 months may rise. The only things is govt policy, hopefully they can be firm with what they want and don’t give conflicting ideas to markett anymore..