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Malaysian palm oil futures for March delivery rose 1.4% on Bursa Malaysia to 3,071 ringgit per tonne. Data showed January production fell 21.8% and January exports rose 8.1% to 1.17 million tonnes.
Lower Malaysian output and firmer exports tighten near-term palm oil supply, supporting prices. A weaker ringgit also adds support by making palm oil more attractive to foreign buyers.
customstoday.mediaCT ReportFeb 3, 2017After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
