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GAPKI expects palm oil output to rise only slightly in 2023 while global use grows, pointing to shrinking year-end stocks. Palm oil accounts for 35.5% of global vegetable oil output.
Policy and energy markets make near-term price forecasts difficult.
Tightening stocks typically support prices, but policy and crude oil swings add uncertainty for vegetable oil buyers.
gapki.idMar 20, 2023After 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.
