BUSINESS Fitch foresees higher crude palm oil prices


Fitch foresees higher crude palm oil prices

China Daily

13:42, November 28, 2019

The Fitch Ratings logo is seen at their offices at Canary Wharf financial district in London, Britain. (Photo: VCG)

Fitch Ratings said Wednesday that it expects Malaysian benchmark Crude Palm Oil (CPO) prices to average $550 per metric ton in 2020, up from around $500 this year.

The rating agency said in a report that it projected CPO prices to be higher next year as it anticipated the demand-supply balance for palm oil to continue to improve.

The report cited the US Department of Agriculture recent forecasts that global consumption would outpace output growth by 2.8 million tons over the marketing years of 2019 and 2020.

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue