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China's palm oil imports fell 24.7% in January-February 2020 to 882,200 MT from 1,171,500 MT a year earlier, according to Chinese customs data. The MPOC analysis attributes the decline to weaker demand in that market and outlines the outlook for the second quarter.
China is one of the largest palm oil importers, so a sharp drop in its purchases reduces global demand and pressures palm oil prices.
mpoc.org.myApr 22, 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.
