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GAPKI projects Indonesia's 2024 palm oil exports will fall about 4.13% to around 29 million tons due to stagnant production and rising domestic demand. Palm oil output is expected to rise no more than 5%, and domestic need could reach 25 million tons under the B35 biodiesel mandate.
Lower Indonesian exports and tighter domestic supply support global vegetable oil prices, with the B35 mandate absorbing more output.
gapki.idadminJan 16, 2024After 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.
After 296 past bullish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +2.0%), and -0.5% 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.
