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Heavy rain and thunderstorms have caused flash floods in major Malaysian palm oil states including Sabah, Sarawak, Johor, Pahang and Perak. Floods can prevent harvesting, leave fruit overripe and disrupt transport to mills, while a persistent shortage of harvest workers compounds the problem.
Lower harvest and fruit quality in Malaysia, the second-largest palm producer, tightens palm oil supply and supports prices. Vegetable oil buyers may face firmer costs.
bloomberg.comAnuradha RaghuJan 19, 2021After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
