* Palm oil prices seen at 2,240-2,360 ringgit in 2019 -Fry
* Palm market to be supported by higher biodiesel output -Fry
* Growth in palm oil output to slow to 2.8 mln T in 2019 -Fry
Prediction on Global Palm Oil. Supply Demand & Price Outlook. Palm Biodiesel. Effectively Banned?
By Naveen Thukral and Emily Chow
KUALA LUMPUR, March 6 (Reuters) - Benchmark international palm oil prices are set to climb in 2019 amid declining growth in global output and higher drawdowns in reserves as biodiesel consumption rises, a leading industry analyst said on Wednesday.
Palm oil futures on the Bursa Malaysia Derivatives Exchange slipped almost 8 percent in February, with the market this week trading around 2,160 ringgit a tonne.
“If Brent settles at $65, the (free on board) price will be $580, or 2,360 ringgit, a tonne, and at $60 a barrel, it would be $550, or 2,240 ringgit, a tonne,” analyst James Fry told an industry conference in Kuala Lumpur. Brent crude oil is currently trading around $65 a barrel.
Palm oil prices are linked to the crude oil market due to the growing use of the commodity in making renewable fuels, Fry said. Expansion in biodiesel production is also helping to draw down inventories and support prices, he added.
Palm oil inventories in Indonesia and Malaysia, which together account for over 80 percent of global supply, rose to record highs in 2018.
World palm oil production growth is expected to slow in 2019, with output rising by 2.8 million tonnes to 70.9 million tonnes, Fry said.
Global palm oil production climbed by 5 million tonnes in 2018 from the previous year.
Fry said his output figures were based on production from the eight largest crude palm oil producers in Southeast Asia and Latin America, after allowing for new maturing areas and reductions in fertiliser use.
He estimated that global palm oil stocks would fall by 1 million to 1.5 million tonnes in 2019, if Indonesia holds to its so-called B20 mandate that stipulates biodiesel must have a bio-content of 20 percent, and if Malaysia successfully implements a B10 mandate.
In Indonesia, demand for the use of crude palm oil to make biofuels and direct burning is expected to grow by 1.5 million tonnes in 2019 due to the higher biofuel mandates and power generation, the analyst said.
Indonesia and Malaysia, the world’s top two producers of palm, have brought in higher biodiesel mandates in recent months to boost consumption of the commodity. (Reporting by Naveen Thukral and Emily Chow; Editing by Tom Hogue and Joseph Radford)
Mar 19, 2019 (WiredRelease via COMTEX) -- Global Palm Oil Market Report Contain Analysis of Years 2014-2018 and Forecast 2019-2024
The report titled “Global Palm Oil Market” gives a proper understanding of global Palm Oil industry. Furthermore it also cover-up forecast and analysis for Palm Oil market on the global and regional level. The report analyses Palm Oil market on basis of its attractiveness and investment feasibility. It also presents a proper description of every section and emerging industry trends. This will allow the readers to target market product specifications, current competitive players in Palm Oil market and the market revenue with profitability. Global Industry Analyze Palm Oil Market by its type, competitive players, regions, and applications of Palm Oil market, forecast up to 2024. This report analyses the scope of Palm Oil market. This can be achieved by using previous historical data, analysing qualitative insights in detail, provable projections about global Palm Oil market size. The projections showed in this report are taken from previously proved research methodologies and hypothesis. By performing such projections, the market research report serves as a storehouse of analysis, data, and information for every aspect of the Palm Oil market. Considering the geographic area, Palm Oil market is divided into various regions like Middle-East a and Africa, Asia-Pacific, South America, and Europe.
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Global Palm Oil Market(2019-2024) Key Company’s Coverage(Sales Revenue, Price, Gross Margin, Main Products etc):
Product Type Coverage (Market Size & Forecast, Major Company of Product Type etc.):
Application Coverage (Market Size & Forecast, Different Demand Market by Region, Main Consumer Profile etc.):
Geographical Analysis In Palm Oil Market:
** Asia-Pacific(China, South Korea, Thailand, India, Vietnam, Malaysia, Indonesia, Southeast Asia, and Japan).
** The Middle East and Africa (Saudi Arabia, South Africa, Nigeria, and Egypt).
** North America(Mexico, Canada, and the USA).
** South America (Brazil and Argentina).
** Europe(France, Russia, UK, Germany, and Italy).
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> The First Section of the Palm Oil market research report highlights industry overview, upstream and downstream market segmentation, and the cost analysis.
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> Next two Section list the top manufacturers and companies involved in the Palm Oil market and competitive scenarios of these market players.
Longman dictionary for pc full crack. > The Sixth Section includes Palm Oil market demand, demand comparison according to geographical regions, demand situation, and demand forecast.
> Seventh and Eighth Section highlights region operation, by region and regional forecast, product margin, price/cost of the product, value chain, and sales channel.
> The Last Section of the Palm Oil market report displays research findings and conclusion.
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