Golden Agri sees palm oil reaching $700/mt in next six months

In Singapore, Platts reports that Golden Agri expects palm oil prices to return to around the $700 per metric ton FOB Belawan mark in the next six months compared to current Malaysian futures levels of $612.50/mt on the back of Indonesia’s B30 mandate. The policy is set for implementation on January 1, 2020. The company also expects supplies to tighten by as much as 3% as farmers reduce inputs on the back of low prices, in turn helping to support prices.