Oil World sees palm oil prices at $800/T in first half of 2020

• He said his conservative estimate for average palm oil prices for Jan-June 2020 is $800 per tonne.
• The current fall in prices will be temporary because fundamentals for lower production and rising demand remain supportive.

PARIS: Global palm oil output is expected to decline by 1 million tonne in 2019/2020, and the current fall in prices will be temporary because fundamentals for lower production and rising demand remain supportive, Oil World said on Tuesday.

The company's Chief Executive Officer Thomas Mielke told Paris Grain Day conference that palm oil prices could rise by up to $150 from current levels if there is a full implementation of Indonesia's B30 Biodiesel programme this year.

He said his conservative estimate for average palm oil prices for Jan-June 2020 is $800 per tonne.