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DBS Research says Malaysia's August palm oil stockpile was flat month on month at 1.7 million tonnes, down 24.5% year on year. Output rose 3% to 1.86 million tonnes, while exports fell 11% month on month to 1.58 million tonnes.
Indonesia's B30 biodiesel programme remains on track to meet its 2020 target.
A tight stockpile and soft output growth point to firm palm oil prices, while B30 demand supports the market. Export softness and the seasonal output rise limit the upside.
research.sginvestors.ioSGinvestorsSep 13, 2020After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
