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Analyst Mistry forecasts Indonesian palm oil output rising by 1 million tonnes to 44 million tonnes in 2020, while Malaysian output falls by the same amount to 19.3 million tonnes. He estimates Indonesia's planned B30 biodiesel mandate for January 2020 will require an extra 2.5 million tonnes of crude palm oil.
Flat combined output alongside biodiesel-driven demand growth points to a tighter palm oil balance, which supports higher prices.
reuters.comHallie GuNov 7, 2019After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
