Soft oil prices will help support palm oil prices

Pakistan-based Westbury Group’s CEO, Rasheed Janmohammed, said palm oil futures on Bursa Malaysia Derivatives have already gone up too much, resulting in demand rationing.

He is forecasting CPO futures to trade between RM3,600 and RM3,800 a tonne in 2Q21, and between RM3,200 and RM3,400 from July onwards

Ryan Chen, business director for oil and softseeds at Cargill Investments (China) Ltd, said soft oil prices will help to support palm oil prices, but this would be dependent on the various performances of the other vegetable oil complexes.

Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.

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