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Analyst Thomas Mielke said on Thursday at the industry conference that the global palm oil price will drop by 50 dollars per ton in the coming months due to output growth.
"We expect 4-9 months of global overproduction and increased inventory, especially in Malaysia and Indonesia," Mielke told reporters.
"I predict that the price will drop by 40-50 dollars from the current level (per ton), reaching a low point at some time in July or August."
The offshore price of palm oil in Malaysia is 630 dollars per ton on Wednesday.
Mielke is the editor of Oil World in Hamburg, Germany. He said that prices will probably rise in 2019 and 2020, because he expects that the market will enter the stage of insufficient production.
He expects that in the year to September 2018, the output of palm oil will reach 70 million 500 thousand tons, which is 3.8% higher than the 67 million 900 thousand tons he estimated in 2017.

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