Gold Ten Futures, April 18, according to foreign media news, analysts expect that crude palm oil prices will remain above 4,000 ringgit per tonne in the short term, but may have reached this year's peak for now. Maybank IB Research said in its latest report that crude palm oil prices may have peaked and production will reach a seasonal peak in the third quarter of 2024 due to a strong recovery in palm oil production from May. "Even if export momentum continues, we expect inventory levels to remain below 2 million tonnes in the coming months, as peak production is likely to occur in the third quarter of 24, barring any unpredictable weather issues," RHB Research said. Production is expected to improve slowly in the coming months, with a larger surge in May-June. As for exports, demand is also likely to pick up gradually as inventory replenishment activities continue.
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