(July 19): Palm oil, the world’s most consumed cooking oil, may extend its slide, tumbling more than 20% to RM3,000 a tonne by September, driven by surging supplies in Indonesia, said veteran analyst Dorab Mistry. “They are chock-a-block with palm oil,” he told Bloomberg TV. “Barges, ships, everything is being used to store palm oil. That means the outlook for palm oil remains bearish for now. “This is just one step in the southward journey in palm oil,” Mistry said.

Source: The Edge Markets July 19, 2022 19:13 UTC