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The Indonesian Palm Oil Association (GAPKI) reported that first-half 2020 crude palm oil and palm kernel output fell 9.2% year on year to 23.5 million tons. GAPKI attributed the decline mainly to the lingering effects of the 2018 price crash and 2019 drought rather than COVID-19.
Lower output from the largest palm producer, driven by reduced planting and fertilizer use, keeps global vegetable oil supplies tight and supports prices.
thejakartapost.comMardika ParamaAug 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.
