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Malaysian palm oil futures rose to a near four-week high on July 6, gaining 1.8% to 3,950 ringgit a tonne. The gain was driven by renewed Indian buying of refined palm oil after a one-year gap.
Resumed Indian import demand supports palm oil prices, though analysts warn it may fade at current levels and that cheaper Indonesian supply is taking share from Malaysia.
brecorder.comReutersJul 6, 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.
