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Gapki reported Indonesia's 2016 palm oil production fell 3% to 34.5 million tons, attributed to El Niño dry weather. Exports fell 5% to 25.1 million tons, while US-bound shipments rose 43% to 1.08 million tons.
El Niño-driven output losses and lower exports tighten global palm oil supply, supporting prices. Strong US demand points to a shift in edible oil usage that may keep demand firm.
indonesia-investments.comIndonesia InvestmentsFeb 2, 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.
