Malaysian palm oil inventories could start building again in April

Gold Ten Futures, April 16, Hong Leong Investment Bank analysis report said that Malaysian palm oil inventories may start growing again in April, as seasonal factors help to boost production. Exports are also expected to weaken due to the lack of festival-driven demand. In addition, Malaysian palm oil is currently priced higher than competing oil products, which may also put pressure on demand. Maintain the estimates for crude palm oil prices from 2024 to 2025 at 4,000 and 3,800 ringgit per tonne respectively, with no substantial demand catalyst in the near future.