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Palm oil prices seen unsustainable, likely to decline: analyst

Wednesday, March 8, 2017 - 11:59

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Current crude palm oil price levels are unsustainable and likely to fall, leading analyst Thomas Mielke said on Wednesday.

[KUALA LUMPUR] Current crude palm oil price levels are unsustainable and likely to fall, leading analyst Thomas Mielke said on Wednesday. "Production is recovering, current prices are not sustainable and prices are going to decline," said Mr Mielke, editor of Hamburg-based newsletter Oil World, speaking at an industry conference in Kuala Lumpur.

Benchmark palm oil prices for May on the Bursa Malaysia Derivatives Exchange were down 0.8 per cent at RM2,837 on Wednesday morning.

REUTERS

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