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Malaysia's palm oil board expects 2021 crude palm oil output, oil extraction rate and exports to rise on better weather and yields. The board projects output of 22 million tonnes by 2025 but gave no 2021 production figure.
Higher expected Malaysian output adds to global palm oil supply, which is bearish for palm oil prices if realized, although no new numbers were given.
ukragroconsult.comJun 8, 2021
spglobal.comJun 8, 2021After 29 past bearish weather events, Palm Oil moved a median -0.3% over 5 sessions (38% higher; middle half -2.2% to +0.6%), and -1.4% 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.
