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Malaysian palm oil plantations will halt operations for two weeks to comply with government coronavirus containment orders, a producer group said on March 18. Analysts estimate March crude palm output could fall by 350,000-700,000 tonnes.
Malaysian palm futures jumped 5% on the supply concerns.
A harvest pause in the world's second-largest palm producer tightens edible oil supply, supporting palm and competing vegoil prices for feed and food buyers.
malaysiakini.comReutersMar 18, 2020After 16 past disease events, Palm Oil moved a median +0.3% over 5 sessions (56% higher; middle half -3.2% to +1.5%), and -7.7% over 20.
After 13 past disease events, Soybean Oil moved a median -0.3% over 5 sessions (38% higher; middle half -2.3% to +1.2%), and -4.6% 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.
