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India's landed cost of imported crude palm oil has risen 38% since Indonesia announced its export curbs on January 27. Soyoil costs in India are up 29% this year, and sunflower oil suppliers have stopped offering supplies.
India has asked Indonesia to raise its palm oil supply to ease prices.
Indonesian export restrictions are forcing importers such as India to pay sharply higher prices and shift to soyoil, which tightens vegetable oil demand balances and supports soyoil and palm prices.
reuters.comRajendra Jadhav, Krishna N. Das, Aftab AhmedMar 2, 2022After 133 past bullish trade events, PALMOIL 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, SBO 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.
