Palm prices to stay firm from Oct to Feb, could ease from March – analyst Mistry

© Reuters. A worker holds palm oil fruits while posing for a picture at an oil palm plantation in Slim River, Malaysia August 12, 2021. Picture taken August 12, 2021. REUTERS/Lim Huey Teng/Files

PANAJI, India (Reuters) – Malaysian crude palm oil prices, which have hovered near last month’s record highs, will stay firm until February, and may start easing from March on rising output in the top two producer nations rise, leading industry analyst Dorab Mistry said.

Mistry, the director of Indian consumer goods company Godrej International, unveiled on Saturday a bullish outlook for the next five months, due to Indonesia’s high export levy and a peak in supply tightness anticipated at the start of 2022.

He pegged palm oil prices in a range from 4,000 ringgit to 4,400 ringgit during October to February before they ease in March.

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