Malaysian palm oil futures edged higher after Intertek data showed palm product exports fell 4.6% in the first half of November, an improvement on the earlier 13% drop. Prices also drew support from fears that a super typhoon damaged Philippine coconut crops and could tighten coconut oil supply.
The benchmark January contract traded at 2,599 ringgit per tonne.
A possible coconut oil shortage would shift demand toward palm-based substitutes and support palm oil prices. Improving export flows and expected Chinese restocking before Lunar New Year add to the support.
After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.