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Malaysia's Plantation Industries Minister Zuraida Kamaruddin said global demand for Malaysian palm oil will keep rising despite Indonesia's levy waiver. She said Malaysia's palm oil prices would stay higher than Indonesia's because of its production costs.
Ministerial comments on demand outlook carry limited price impact on their own, but the expectation of steady demand supports palm oil prices. Competition from the Indonesian levy waiver remains a pressure on Malaysian export share.
nst.com.myBernamaJul 24, 2022After 67 past neutral trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.1% to +1.3%), and +0.6% 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.
