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Indonesian market commentary reports that palm oil futures have trended lower as demand weakens after palm lost price competitiveness against other vegetable oils. The July CPO contract closed 1.8% lower at 3,571 ringgit a tonne, and Indonesian March exports of palm products fell from over 2 million tonnes in February to 1.96 million.
Losing price competitiveness to rival oils reduces palm demand and points to a continued softening of palm prices.
pwc.comPricewaterhouseCoopers27 abr 2023Tras 158 eventos bajista de comercio pasados, Aceite de palma se movió una mediana de +0,0 % en 5 sesiones (51% al alza; mitad central entre -1,3 % y +0,8 %), y -1,4 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Palm lost price competitiveness against other vegetable oils, weakening demand and weighing on prices.
