Allianz Investment: Tight market supply and lower-than-expected palm oil production may support prices

Golden Ten data, November 7th News, Liu Yaohong, head of the investment bank's futures brokerage business at Allianz, said that the overnight surge in soybean oil at the Chicago Mercantile Exchange has driven up palm oil prices in early Asia trading. He believes that tight market supply and lower-than-expected palm oil production may support prices and test the level of 5048 ringgit per ton. Liu Yaohong set the support level for crude palm oil futures at 4780 ringgit.