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NEWS ADMIN

DATE

04/11/2019

NEWS PROVIDER

Siti Safura Masiron

NEWS SOURCE

Hellenic Shipping News Worldwid

CATEGORY

HEADLINE

Indonesia palm oil price to average $600/T in Jan-June 2020 – analyst Mielke

03.11.2019 (Hellenic Shipping News Worldwide) - Indonesia palm oil price is seen averaging at $600 per tonne in the first half of next year, an increase from an earlier estimate of $580 per tonne, leading industry analyst Thomas Mielke said.

 

Global consumption has started to exceed output and world’s stockpiles of palm oil are expected to drop by 2-3 million tonnes in the next 12 months from 14.7 million tonnes, said Mielke, editor of Oil World, the Hamburg, Germany-based newsletter, at a palm conference in Indonesia’s Bali island.

Source: Reuters (Reporting by Fransiska Nangoy Editing by Shri Navaratnam)