Ivory Coast: Palm oil prices soar, + 50% in eight months, Palm-ci shares, good deal of the moment : Orishas-finance

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Ivory Coast: Palm oil prices soar, + 50% in eight months, Palm-ci shares, good deal of the moment

28/01/2021

Source : koaci.com/

Categories: General Information

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Ivory Coast: Palm oil prices soar, + 50% in eight months, Palm-ci shares, good deal of the moment

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Harvesting the seed of the palm tree in a palm grove

Palm oil prices have jumped nearly 50% since May 2020 from US$560 per metric ton to nearly 1,000 in recent days and according to specialists, the trend is not about to reverse.

Indeed, in a context of high demand, prices are supported due to a tightening of supply partly due to the La Nina climatic phenomenon.

Ivorian production represents only 2% of the world's palm oil supply. 481,000 t in 2017/18, up 66% in 10 years.

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