Loading…
Indonesian palm oil association GAPKI reported June 2020 crude palm oil output rose 13.5% from May to 4.096 million tonnes, while exports rose 13.9% to 2.767 million tonnes. CPO prices averaged $602 per tonne CIF Rotterdam in June, up from $526 in May.
Domestic biodiesel consumption fell 5.4% month on month.
Stronger exports and rising prices signal firmer palm oil demand, although higher output adds supply that partly offsets the price support.
gapki.idAug 19, 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.
