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James Fry of LMC International said Indonesian palm oil prices at Sumatra ports could ease to $920 per tonne from $940. He added that if Indonesia implements its B40 biodiesel mandate in January, prices could reach $1,080 per tonne by June.
A B40 mandate would absorb significantly more palm oil for biodiesel, tightening exportable supply and lifting prices. Without it, the outlook points to modestly lower prices in the near term.
reuters.comNov 4, 2022After 548 past bullish policy events, PALMOIL moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% over 20.
After 842 past bullish policy events, SBO moved a median +0.2% over 5 sessions (52% higher; middle half -1.6% to +2.1%), and -0.5% 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.
