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Crude palm oil prices rose 2.47% over the week, with a near 3% gain over the past month. The Council of Palm Oil Producing Countries expects Indonesian and Malaysian output to fall sharply this year, partly due to COVID-19 labour shortages in Malaysian plantations and La Nina rains.
Expected output declines tighten palm oil supply and support prices, which can lift the cost of vegetable oil and palm-based feed ingredients.
cnbcindonesia.comHidayat SetiajiAug 30, 2020Not 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.
