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Malaysian palm oil futures fell 2.5% for the week, closing at 2,688 ringgit a tonne on Friday. Traders reported that August exports so far had fallen 10% to 15%, and India's July palm oil imports rose 1.4% year on year to 824,078 tonnes.
Weak export pace from Malaysia signals softer near-term demand, which pressures palm oil prices. Steady Indian imports offer some support.
brecorder.comReutersAug 14, 2020After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
