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Malaysian palm oil producers are raising pay and perks to retain foreign workers during the pandemic. Labour shortages threaten to reduce Malaysia's palm oil output and exports.
Global palm oil demand is forecast to fall about 3% in the current crop year.
A labour shortage could curb Malaysian palm output and exports, tightening supply and supporting prices. Lower global demand partly offsets this.
reuters.comMei Mei ChuJun 24, 2020After 15 past bullish logistics events, Palm Oil moved a median -0.1% over 5 sessions (47% higher; middle half -2.4% to +3.9%), and +0.5% 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.
