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MPOC released Malaysian palm oil trade statistics for January to December 2023 showing total palm oil exports of 15.10 million tonnes, down 3.91% from 2022. Crude palm oil exports fell 3.75% and processed palm oil exports fell 3.96%.
Export values in ringgit dropped about 27% to 28%.
Lower Malaysian export volumes and values signal softer export demand, a mildly bearish factor for palm oil prices. The decline in ringgit value reflects lower prices received by exporters.
mpoc.org.myFeb 15, 2023After 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.
