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The rupiah fell to 16,421 per US dollar on June 27, with an IPB University economist citing US policy and Indonesia's dependence on imports as causes. He also said lower prices for key exports such as palm oil are adding pressure by weakening the trade balance.
Lower palm oil prices reduce export earnings and the trade surplus, which weighs on the rupiah and raises the cost of imported feed inputs. Weaker palm oil pricing also reduces the cost advantage for buyers of palm-based feed ingredients.
nu.or.idAru Lego TrionoJun 28, 2024Not enough comparable past events yet for a historical read.
After 51 past bearish macro events, Palm Oil moved a median -1.3% over 5 sessions (35% higher; middle half -4.1% to +1.1%), and -1.8% 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.
