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GAPKI reports Indonesian crude palm oil output rose for three straight months, reaching 4.73 million tonnes in September 2020. Output was still 4.7 percent lower than a year earlier.
Palm oil export volume in September rose 3 percent from August to 2.76 million tonnes, with higher shipments to China.
Recovering output and rising exports add supply to world markets, though year-on-year shortfalls limit the bearish impact on palm prices.
gapki.idadminNov 20, 2020After 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% 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.
