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Indonesian palm oil product exports jumped to 4.33 million tonnes in August from 2.7 million in July, according to GAPKI. Crude palm oil shipments rose from 1.92 million to 2.97 million tonnes, with India and China as the biggest gainers.
The export surge was attributed to the temporary levy suspension, which was extended to year-end.
Stronger Indonesian export flows add supply to the global vegetable oil market and reinforce competitive pressure on palm and soyoil prices.
thejakartapost.comWike D. HerlindaOct 11, 2022After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
