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The Bangladesh government plans to procure 0.7 million tonnes of rice bran oil through its trading arm TCB for sale to consumers. TCB has already signed deals with local producers, aiming to reduce reliance on soybean and palm oil amid high edible oil prices.
Government procurement of rice bran oil shifts some edible oil demand away from soybean and palm oil, a modest bearish factor for those oils in Bangladesh.
thefinancialexpress.com.bdFE ReportJul 3, 2022After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% over 20.
After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
