Crude palm oil prices seen steady through Q1 2023

In Malaysia, Xinhua news agency reports that analysts expect crude palm oil prices to remain steady through the first quarter of next year thanks to a seasonally low production cycle and exceptional rains that are expected to continue through January. On the supply side, Indonesia’s stocks are thought to have fallen sharply recently, helping to further support prices. So while stocks are tight, keeping prices steady, they’re still at a $400 per metric ton discount to other key oils in the oilseed matrix such as soybean and rapeseed.