POINTERS ON THE PRICE TRENDS:
Crude Oil, Crude Palm Oil (CPO) and Covid-19
Dr. James Fry
Dr Fry, LMC's Chairman, was educated at Oxford University, where he obtained an MA in Mathematics and a Doctorate in Economics. After teaching Economics at Magdalen College, Oxford University, in 1980 Dr Fry jointly founded LMC International, and is the company's Chairman. He continues to devote almost all his time to the company's research and consultancy activity and he is in overall charge of its work in commodity-based sectors.
LMC's headquarters are in Oxford, UK with offices in New York, Kuala Lumpur, Detroit, Shanghai, Bangkok and Frankfurt, with a partner office in São Paulo, Brazil
The presentation will review how the big issues and question marks today, notably the impact of not only COVID-19, but also the battle between the Saudis and Russians to increase their share of the world petroleum market, have fed through to the palm oil market.
The paper will examine how well the price band has performed under these two pressures. It will also contrast the loss of palm oil output as a result of COVID-19 with the loss of demand caused by the pandemic, due to the lockdowns and the longer damage to global economies. This feeds through to palm oil stocks and, via the level of stock to the spread between CPO and crude petroleum prices, which will conclude the presentation.
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