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Malaysia signed an export pact to supply palm oil to South Asia for December shipments. Indian refiners resumed buying after a nearly month-long halt triggered by a dispute over Malaysia's remarks on Kashmir.
Resumed Indian demand, with about 70,000 tonnes contracted and a US$5 per tonne discount offered against Indonesia, supports Malaysian palm oil prices near two-year highs. The discount signals competitive pressure on origin pricing.
scmp.comReutersDec 1, 2019After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% over 20.
After 224 past bullish trade events, Soybean Oil moved a median +0.4% over 5 sessions (54% higher; middle half -1.5% to +2.1%), and -0.5% 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.
Indian refiners resumed palm oil buying after a month-long halt and Malaysia signed a December export deal, reviving demand and trade flow.
