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Palm oil is expected to miss its usual Ramadan demand surge because COVID-19 lockdowns are curbing purchases by major importers including India, Pakistan, Bangladesh, Saudi Arabia and Iran. Purchases had picked up in early March but slumped after lockdowns began.
Malaysian palm oil exports in March fell 27% year on year to 1.2 million tonnes.
The loss of the seasonal Ramadan restocking window removes a demand boost that normally supports prices, so prices may stay under pressure through the period.
ofimagazine.comQuartz Business Media01.05.2020Nach 158 vergangenen Ereignisse (bearisch, Handel) bewegte sich Palmöl im Median über 5 Handelstage um +0,0 % (51% höher; mittlere Hälfte -1,3 % bis +0,8 %) und über 20 Handelstage um -1,4 %.
Veränderungen des Benchmarks jedes Rohstoffs seit dem letzten Schluss vor dem Ereignis. Historische Werte bündeln frühere Ereignisse derselben Art; sie beschreiben, was passiert ist, nicht was passieren wird. Keine Anlageberatung.
Lockdowns are curbing the usual Ramadan buying by major importers, removing seasonal demand support.
Lockdowns are cutting importer purchases and the usual Ramadan demand surge is expected to be missed, a bearish demand signal published 2020-05-01 inside the window.
