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Malaysian palm oil futures ended flat on Friday but gained 2.5% over the week. Coronavirus lockdowns in Sabah cut plantation and mill operating hours, and rainy weather in Malaysia and Indonesia linked to La Nina is hampering output.
October exports signal stronger demand from India and China.
Lockdown limits and wet weather constrain palm supply through October, supporting prices. Firm export demand from India and China reinforces the upward pressure.
brecorder.comReutersOct 23, 2020After 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.
