Rising demand amid the Ramadan month (the holy month of the Islam) gives some support for the palm oil price but it is not enough yet to push the CPO price higher. During the Ramadan and Idul Fitri celebrations (which mark the end of the Ramadan month) consumption peaks (specifically due to increasing consumption of food items).

However, analysts believe palm oil output in Malaysia has risen 5.8 percent month-on-month (m/m) to 1.64 million tons in May 2017, while Malaysian palm oil shipments are believed to have surged 13 percent (m/m) to 1.45 million tons. On 13 June 2017 the Malaysian Palm Oil Board (MPOB) will release the official May data.

Read also: Overview of Indonesia's Palm Oil Industry

Bahas