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Indonesian palm oil association data show April 2024 CPO production rose 0.32% to 4.115 million tons. Exports fell 14.94% from March to 2.178 million tons, while local consumption dipped slightly, leaving stocks higher.
Rising stocks alongside weaker exports point to a looser supply balance, which is bearish for palm oil prices.
gapki.idadminJun 24, 2024After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
