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Palm oil CPO futures on Bursa Malaysia rose about 2.2% on March 2, 2020 after reports that India and Malaysia intend to mend ties. The June contract traded near RM 2,370 per tonne.
The rebound followed the change of Malaysian prime minister.
Hopes of renewed Indian buying support palm prices, though actual purchase volumes remain uncertain.
cnbcindonesia.comTirta CitradiMar 2, 2020After 548 past bullish policy events, Palm Oil moved a median +0.4% over 5 sessions (61% higher; middle half -0.7% to +2.1%), and +0.9% 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.
