Loading…
Malaysia signed an agreement with China to resume the East Coast Rail Link project, revived at a lower cost of RM44bn after being cancelled last year. Prime Minister Mahathir said the deal would include increased palm oil purchases by China, which was the second-largest importer of Malaysian palm oil at about 1.9m tonnes in 2018.
If China's palm oil purchases rise above the 1.87m tonnes seen in 2018, demand for Malaysian crude palm oil would strengthen and support prices, though the purchase commitment is not yet firm.
foodnavigator.comPearly NeoApr 23, 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.
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.
