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Indonesia's September palm oil exports fell 33% from August to 2.241 million tonnes, according to vessel data. Buyers India and China shifted purchases to Malaysian cargoes as higher prices and an export tax made Indonesian supply costlier.
Flooding and rain also reduced Indonesian September output by an estimated 300,000 tonnes year on year.
Lower Indonesian export availability and buyers rationing demand tighten global palm supply, supporting palm prices and competing edible oil prices.
spglobal.comOct 7, 2021After 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.
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.
