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Malaysian palm oil futures extended losses for a fifth session on Thursday, falling about 1.3% to 4,003 ringgit a tonne. Recession concerns and Indonesia's plans for more export-encouraging measures, including a possible export levy cut, weighed on the market.
Indonesia's push to lift exports adds supply to the vegetable oil market, while recession fears and tighter global monetary policy curb demand. Possible levy cuts could extend downward pressure on palm prices.
brecorder.comReutersJul 7, 2022After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% 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.
