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Plantation analysts are worried about Malaysian crude palm oil exports from May onward as COVID-19 lockdowns curb businesses that buy palm oil. Prices have fallen to RM2,200-2,300 per tonne from about RM3,000 in January.
Weaker import demand from key buyers is pushing palm oil prices lower, and a prolonged lockdown would deepen the drop in exports.
theborneopost.comApr 15, 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.
