According to reports, Kuala Lumpur, March 24-edible oil industry analysts said, that global edible oil prices are about to approach their peak, but the process of falling back, to previous levels may be slow and gradual. Due to low inventories, slow output recovery, Global demand for bio-fuel production has increased.Take the palm oil prices:
Major industry analysts said, that the prices of major vegetable oils, such as palm oil and soybean oil may reach multi-year highs in 2021. Due to production disruptions, recovery in food consumption, and optimistic prospects for biofuel demand And many other factors.
However, the continued labor shortage in Malaysia, has limited the recovery of palm oil production, and the stagnant growth in soybean meal demand, has led to a decline in China’s soybean oil production, which will prevent the price of vegetable oil from falling sharply.
Analysts said that rising palm oil prices, have restricted food demand in price-sensitive markets such as India, but US President Biden’s bio-diesel plan will stimulate demand in this area.
Palm oil is the cheapest and most widely, used edible oil in the world. From biscuits to bio-fuels, palm oil is everywhere.
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BTMA News on March 29
