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Bloomberg reports palm oil prices are likely to stay firm into early 2022. A chronic labor shortage in Malaysia and heavier-than-usual rains in key growing areas are disrupting palm oil output.
Lower output from the world's most-consumed edible oil tightens vegetable oil supplies, supporting palm oil prices and competing oils such as soybean oil and, by extension, feed-related meals.
bloomberg.comAnuradha Raghu, Eko ListiyoriniDec 29, 2021After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
