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Indonesian palm oil producers expect drought across major planting regions to delay fruit ripening and reduce output in the short to medium term. Indonesian crude palm oil prices have risen nearly 10% since early July, reaching about $500 a tonne.
Lower expected Indonesian output tightens the world's largest palm oil supply, supporting vegetable oil prices and making palm a costlier substitute for feed-grade fats.
reuters.comEmily ChowAug 20, 2019After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
