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GAPKI reports Indonesian palm oil production of 4.04 million tonnes in October 2021, lower than September. It estimates 2021 crude palm oil output at 47.47 million tonnes and export value above US$35 billion as prices stay high.
Flat output and high prices through 2021 signal tight palm supply, which supports prices for palm-based feed fats and competing vegetable oils.
gapki.idDec 19, 2021After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
