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About 290,000 tonnes of palm oil shipments bound for India are trapped by Indonesia's widened export ban covering crude and refined palm oil. Indian officials warned of a vegetable oil shortage, and the country is asking for near-record prices for prompt shipments.
India is a major edible oil importer, so stranded cargoes and shortage fears support higher palm and other vegetable oil prices as Indian buyers scramble for alternative supply.
reuters.comRajendra JadhavApr 28, 2022After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% 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.
