MUMBAI (Sept 20): Refined, bleached and deodorised (RBD) palm olein prices in Malaysia will average US$1,100 (RM4,619) per metric tonne on a free-on-board (FOB) basis in the first half of 2025, up 23% from a year ago, leading industry analyst Thomas Mielke said on Friday.

Higher prices of RBD palm olein could boost demand for crude palm oil and support benchmark Malaysian palm oil futures.

Palm oil output of top producer Indonesia is likely to fall by up to 1.5 million metric tonnes in 2024 amid rising local demand for biodiesel, which will reduce exports and support prices, Mielke told the Globoil India conference.

Last month, Indonesia's energy ministry said it plans to raise the share of palm oil in biodiesel to 40% in January 2025 from the current 35% to reduce fuel imports and emissions from fossil fuels.

Argentina's soyoil prices could average US$1,130 per tonne on a FOB basis in the January to June period next year, up 27% from a year ago, Mielke said.

Sunflower oil prices in the Black Sea region could average US$1,220 per tonne, up nearly 51% from a year ago, as output in leading producers Russia and Ukraine is likely to fall, he said. 

https://www.theedgemarkets.com/node/727426