Commodities 2023: Lower palm oil prices likely but markets wary of supply, recession risks
January 3, 2023 Comments Off
Crude palm oil prices may ease in 2023 after hitting record highs last year, but “wild cards” such as Malaysia’s labor crunch at its palm plantations, China’s re-opening, and looming recession fears could upend forecasts, industry sources warned. Third-month crude palm oil futures on Malaysia’s commodity exchange are expected to be at around MR 3,800/mt ($859.24) in 2023, according to…
Commodities 2023: Lower palm oil prices likely but markets wary of supply, recession risks
Crude palm oil prices may ease in 2023 after hitting record highs last year, but “wild cards” such as Malaysia’s labor crunch at its palm plantations, China’s re-opening, and looming recession fears could upend forecasts, industry sources warned. Third-month crude palm oil futures on Malaysia’s commodity exchange are expected to be at around MR 3,800/mt ($859.24) in 2023, according to…
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