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Palm oil futures rose on projected production declines in Malaysia's southern peninsula, which fell 5.6% in the first 25 days of June. Traders also cited rumors that Indonesia will raise crude palm oil export duties in July, with the benchmark price possibly set near $800.50 a ton.
Lower Malaysian output and a possible Indonesian export duty increase would reduce export availability and lift palm oil prices. Buyers sensitive to cost may slow purchases if prices rise.
ukragroconsult.comJun 28, 2024After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), 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.
