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Sime Darby said palm oil prices will be supported by Indonesia's reintroduced export levy, which follows drawdowns in inventories. The company also warned its own output will be curtailed by a worker shortage, and noted global palm inventories are improving as Indonesia loosens export restrictions.
Indonesian levy reintroduction and shrinking stocks support prices, while labour constraints tighten supply from a major producer. Improving inventory flows partly offset that support.
grainpricenews.comMike VerdinNov 22, 2022After 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.
