Next week palm oil looks once again defensive due to down export of first ten days of Jan but to onward it’s improving last week 12000 contracts increased market is expected to correction mode near to 200RM.
Tomorrow data will clear the position ,weather is still watchable factor.
Tomorrow data look two way direction 1-10 look bearish but 1-30 December look bullish due to low output ,down stock and sluggish export , some experts prediction will will sideways till 20th January and 1-20 data will clear the more picture.
My concern is this still output and operational sector are in trouble and I don’t think so it will recover till end of January and contracts day by day increasing means demand on road either it’s belong to palm oil are soybean oil ,seasonal growth is still exist china ,India are need more oil to fulfil their domestic demand and in this regard palm oil is more attractive due to easy processing with all means.
Pakistani market will active after mid of January for holy Ramzan buying and some others issues Pakistani market look more Hot for local traders and manufacturers.