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Malaysian palm futures were flat on Friday but were on track for their worst weekly decline since 2012, falling 7.9% for the week. The drop followed India's restrictions on refined palm oil imports.
Refineries in Malaysia were running at about half capacity because mills were not supplying enough crude palm oil.
India is Malaysia's top palm oil market for refined product, so the restrictions remove a major source of demand. Reduced refinery throughput also signals tighter processing and a possible knock-on to supply.
nst.com.myReutersJan 17, 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.
