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India imposed stock limits on pulses for wholesalers, retailers, millers and importers through an amended order effective 2 July 2021. The government also cited steps to speed port clearance of edible oils and noted that pulse and oilseed prices are falling.
Faster edible oil clearances and falling oilseed prices point to softer Indian demand pressure on vegetable oil imports, which is bearish for palm and soybean oil.
pib.gov.inJul 2, 2021After 400 past bearish policy events, Palm Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 351 past bearish policy events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.7% to +1.8%), and -0.2% 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.
