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Malaysia's Palm Oil Board said its palm oil stocks could reach 2.5 million tonnes by end-December 2022, the highest since April 2019, as Indonesia waives export levies to clear its stockpiles. Malaysian stocks already hit a 33-month high at the end of August.
Indonesian producers selling stock at cheaper prices are likely to take share from Malaysian exports, building Malaysian inventories and pressuring palm oil prices. Possible extension of Indonesia's policy would prolong this pressure.
brecorder.comReutersSep 22, 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.
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.
