Palm oil price 2014 summary

Date:2016-02-20/ Industry news/ Chat Online
Despite the obvious demand for the commodity, palm oil futures have been on a downward slope for the last five months.
Take a look at this monthly chart of the November futures contract to see what I mean. It’s now trading close to 12-month lows – after reaching an 18-month high in March.
palm oil production machine
2014 palm oil price
The recent uptick in palm oil production was, in part, due to early harvesting before plantation workers went on holiday.
Also, a key factor driving palm oil consumption is the escalating demand for biofuels. And Indonesia’s biodiesel mandate was raised in August 2013 to a minimum 10% biofuel in diesel from the previous 3% to 10% range. The mandate was doubled to 20% for the power industry.
All of these developments point to increased palm oil prices in the immediate future.



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