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Indonesia moved to flush out palm oil inventories after exports resumed slowly following its export ban. Palm fruit prices have fallen about 75% since the ban was first announced, according to a farmers' group.
Authorities want fresh fruit bunch prices to recover to at least 3,000 rupiah per kg.
Indonesia's export policy shifts change global palm oil supply, and the flush-out push adds to downward pressure on palm oil prices. Lower domestic fruit prices also signal weaker farm-level economics for palm producers.
reuters.comBernadette ChristinaJun 10, 2022After 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.
