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GAPKI expects Indonesian palm oil inventories to fall about 45% to 2.67 million tonnes by end-2021 from 4.87 million at end-2020. Production is forecast up 4% to 49 million tonnes, while exports are seen rising to 37.6 million tonnes.
A sharp expected stock drawdown with strong export and biodiesel demand points to tighter palm supply and firmer prices.
brecorder.comReutersMar 25, 2021After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
