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Malaysian palm oil futures rose 1% on Monday after industry groups estimated a more than 10% month-on-month drop in output during the first 20 days of November. Malaysian exports for Nov 1-20 fell 16% year on year, with shipments to India roughly halving.
Talk of Indonesia raising export levies also supported prices.
Lower Malaysian output and expected Indonesian export levies tighten palm supply, supporting vegetable oil prices. Weaker export demand from India partly offsets this.
brecorder.comReutersNov 23, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
