Palm oil

Voituriez Tancrède. 2021. Palm oil. In : Cyclope 2021: World commodities market. Raw materials, currencies, services, agriculture, energy, finance, industry, commodities. "This dark light that falls from the stars". Chalmin Philippe (ed.), Jégourel Yves (ed.). Paris : Cercle Cyclope, 260-263. (Cyclope, 35) ISBN 978-2-36985-192-9

Résumé : The impact of lockdown measures and curfews on the palm oil market was shortlived: prices fell by 30% between January and May 2020, but then rose by 75% to close in December at just over $1,000 per tonne, a level not seen since 2012. The wide range of uses for palm oil—from fast food to biodiesel to biscuits and unnamed chocolate spread—has somewhat shielded it from the harshest of measures in response to the Covid-19 epidemic. Air transport, which was shut down for many weeks, is an ultra-marginal consumer of palm oil, the only country to use it in a blend with kerosene being Indonesia. In the second half of the year, the rebound of the Chinese economy, the third largest export market for palm oil after India and the European Union, and fears of stagnation or even a decline in production in the Indo-Malaysian peninsula due to La Niña, boosted prices. The final push came from India, which in November resigned itself to lowering its tariffs on crude palm oil by 10 percentage points in order to limit inflation in its domestic market, thus boosting imports. CIF Europe palm oil, which is usually cheaper than its temperate rivals soybean, sunflower and rapeseed oils, saw its discount melt in Rotterdam, ending the year at a slight premium to sunflower oil.

Auteurs et affiliations

• Voituriez Tancrède, CIRAD-ES-UMR ART-DEV (NGA)

Source : Cirad-Agritrop (https://agritrop.cirad.fr/602049/)

Métriques

[ Page générée et mise en cache le 2024-04-06 ]