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The rupiah strengthened 0.3% to its highest since late April after Indonesia issued 160 palm oil export permits to 18 companies, following a three-week export ban. Other Asian currencies also firmed ahead of a key US jobs report.
Resumed Indonesian palm oil export permits ease supply concerns and can soften palm oil prices, while the stronger rupiah lowers local import costs for feed buyers.
brecorder.comReutersJun 3, 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.
Not enough comparable past events yet for a historical read.
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.
