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Malaysian palm oil futures rose over 1% on June 23 on improving demand and firm rival edible oils. Gains were limited by a report that Malaysian output rose 15% in June 1-20 and by Indonesia's plan to cut its crude palm oil levy ceiling to $175 per tonne.
Stronger demand supports palm prices, while rising Malaysian output and a lower Indonesian levy (which may boost Indonesian exports) add supply pressure. Net effect is modestly bullish with capped upside.
brecorder.comReutersJun 23, 2021Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
