Palm oil futures in Malaysia rose by more than 2% on Friday, marking the fourth consecutive weekly gain. This was driven by strong export figures and gains in vegetable oil prices on the Dalian Commodity Exchange. The WASDE report cut global palm oil production forecasts by 255,000 tons to 80.18 million tons, while consumption was reduced by 600,000 tons.

Forecast

Palm oil could continue its upward trend, with short-term prices expected to reach 0.90-0.95 EUR/kg. If demand from China and India remains strong, prices could surpass the 1.00 EUR/kg mark.

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