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Indonesia's Ministry of Trade set the November 2024 CPO reference price at US$961.96 per tonne, up US$68.32 from October. The ministry cited stronger demand from India and China and a long dry season reducing global production.
A higher reference price raises the export duty base and confirms firm demand from India and China, supporting palm prices and the cost of palm-based feed fats.
voi.idDony AprianNov 1, 2024After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
