FCPO - Concern on rising Palm Inventory
In the latest MPOB Aug data, the inventory rise more than consensus. This has recall the concern on exponential rise in production for the coming months before it reach its peak during Oct or Nov. The peak of production cycle remain uncertain.
During PORTS event last month, the experts are expecting historical high inventory during 2018. As rising production and inventory remain in the market. FCPO price have limited upside before production reach its peak.
In FCPO price movement, price has fall into correction sized between 2241 & 2202, with current swing projection at 2213 if price stay below 2237. BO1! is trading near historical low, Dalian Palm Olein remain in sideway.
During PORTS event last month, the experts are expecting historical high inventory during 2018. As rising production and inventory remain in the market. FCPO price have limited upside before production reach its peak.
In FCPO price movement, price has fall into correction sized between 2241 & 2202, with current swing projection at 2213 if price stay below 2237. BO1! is trading near historical low, Dalian Palm Olein remain in sideway.
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