Demand for palm oil might be further boosted by the revised lower export duty. CPO prices should have bottomed and downside is offset by improving soybean prices and high crude oil prices. The incremental demand for palm oil from the higher biodiesel mandate will be able to boost CPO prices in 2020. This may marginally increase palm oil demand; andiv) Lower revised export duty for CPO effective January 2020. The key risks are weakening crude oil prices and changes in government policies, especially from importing countries.

Source: The Edge Markets October 21, 2019 02:26 UTC