NUSA DUA, Indonesia (Reuters) – Edible oil demand in the three biggest markets is very mixed, a top industry analyst told an industry conference on Friday, with India showing growth while China has shown few signs of overcoming the impact of COVID-19 lockdowns.
Palm oil prices on a free-on-board basis at Indonesia’s Sumatra ports could ease to $920 per tonne from $940, said James Fry, chairman of commodities consultancy LMC International and if Indonesia implemented its B40 biodiesel mandate in January, prices could reach $1,080 per tonne in June.
(Reporting by Bernadette Christina Munthe; Writing by Fransiska Nangoy; Editing by Ed Davies)
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