• Market sentiment on CPO is moderately bullish and has been lifted by surprisingly strong Indian demand
• Production in East Malaysia will have a large bearing on prices this year relative to previous seasons
• We expect tighter end-season inven...
• Although Indonesia’s economic fundamentals are still strong, its external exposures are rising
• Balance-of-payments deterioration needs to be addressed with structural rather than ad-hoc measures
• External debt has risen in recent years, but ...
Refined palm olein now accounts for half of India’s palm oil imports; a substantial shift from the norm
• The spike in refined palm olein imports reflects deteriorating refining margins in India
• Industry woes have been compounded by a weakening ...
• Palm oil prices break above MYR 2,400/t to their highest level since March
• Prices are supported by lower SE Asian inventories, a weaker MYR and robust Asian demand
• We revise our CPO forecast lower but remain bullish for the remainder of the ...
• The CPO market has dropped sharply in recent weeks amid mounting concerns over sluggish demand
• We argue that the slide in prices is overdone and is amplified by lack of clarity on key industry events
• We recommend that investors buy into th...
• We provide an update of our portfolio, including trades from our Roadmap publication
• New trades: Enter long BMD crude palm oil (CPO) Sep 12 futures...
US weather risks fuel a turnaround in market sentiment
• Conflicting dynamics in grain markets set the scene for continuing price turbulence
• We expect agricultural commodity markets to regain some bullish momentum in Q3-2012...
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This report provides an economic outlook for more than 60 economies worldwide and investment implications for commodities, credit, equities, FX and interest rates markets in 2014. We expect a better 2014, with world economic growth picking up and inflation staying benign. Global growth should increase to 3.5% in 2014 from 2.7% in 2013, helped by improvements in economic activity in the US and Europe. A pick-up in growth in the West is good news for the rest of the world, and we expect emerging economies’ growth to outpace G7 growth by almost 4 percentage points.
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