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Asian farmers are planting more oil palm, but a seedling shortage is slowing the expansion of plantings. Palm oil hit a record high of 7,268 ringgit per tonne earlier this year and remains above its 2010-2020 average despite a recent correction.
Slower planting caps future production growth, which supports palm oil prices over the longer term even as near-term prices fall.
reuters.comRajendra JadhavSep 18, 2022After 181 past bullish weather events, PALMOIL moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
