Friday 29 Mar 2024
By
main news image

SINGAPORE (Sept 26): There is a 50-55% chance of an El Nino onset of fall this year from Sept to Nov with the probability increasing to 65-70% during winter 2018-19, say weather forecasters.

Should weather conditions turn severe, this could have a negative impact on total palm oil production subsequently and a decrease in overall supply would increase prices, if demand stays the same.

However, to date crude palm oil prices have failed to rally despite the impending El Nino weather conditions. According to a Wednesday report by OCBC Investment Research, the prognosis over palm oil demand to date remains soft; the recent contraction in palm oil demand in both EU and India are likely to... (Click here to read the full story)

      Print
      Text Size
      Share