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Agency: Palm oil prices are expected to be in the range of 4,000-4,300 Malaysian Ringgit per ton in March.
Gelonghui February 24 | The Malaysian Palm Oil Council (MPOC) states that palm oil prices in March are expected to range between 4,000 and 4,300 Malaysian Ringgit per ton. The council said that recent tightening of supply, improved demand from India, and firm US soybean oil prices should support palm oil prices. The council believes that strong Malaysian exports and Indonesia shipping ahead of export tax hikes are expected to reduce inventories in both countries. It added that increased price competitiveness is expected to boost Indian demand, with palm oil consumption projected to rise by 800,000 tons in 2026. However, MPOC noted that ample global soybean supplies and increased Chinese soybean oil exports could limit the rise of crude palm oil (CPO) prices, potentially restraining further price increases. The prices of these two oils tend to move in tandem because they are used in similar products.