Loading…
Indonesia's palm oil product exports fell to 1.89 million tons in January and 1.01 million tons in February 2024, below the past-year monthly average. A trade official said weaker competitiveness against soy and canola oils reduced demand.
Companies hold about 5.58 million tons of outstanding export quotas.
Lower Indonesian export flows tighten global palm supply and could reduce domestic supply for cheap cooking oil programs. Price support is likely if export demand stays weak and buyers switch to rival oils.
thejakartapost.comBernadette ChristinaMar 25, 2024After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
After 81 past neutral trade events, Soybean Oil moved a median +0.3% over 5 sessions (56% higher; middle half -1.6% to +1.8%), 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.
