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Malaysian palm oil futures fell to three-week lows on November 30, 2021, down 1.75% in early trade on Omicron concerns about edible oil demand. Indonesia set its December crude palm oil export reference price at $1,365.99 per tonne, up from November.
Indonesia's 2022 unblended biodiesel consumption is seen at 10 million KL.
Omicron-related demand fears weighed on vegetable oils, while higher Indonesian export reference prices and biodiesel expectations offered some support. Net pressure leaned bearish in the short term.
brecorder.comReutersNov 30, 2021Not enough comparable past events yet for a historical read.
Not 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.
Palm futures hit three-week lows on Nov 30 as Omicron raised concerns about edible oil demand, a direct sentiment and demand driver within the window.
Palm hit three-week lows on Nov 30 as Omicron fears hit edible oil demand expectations.
Palm fell to three-week lows on Nov 30 on Omicron worries about edible oil demand, which started the selloff that led into the Dec 1 move.
