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Malaysian palm oil futures rose 2.42% to 3,637 ringgit a metric ton after Indonesia said it would not make CPO exports mandatory through its new exchange. Demand improvement from China and bargain buying also supported prices after a three-and-a-half month low.
Removing the mandatory export channel reduces fears of forced Indonesian selling, which supports palm prices and tightens near-term supply pressure.
brecorder.comReutersOct 12, 2023After 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.
