Loading…
Indonesian sales of palm oil to oleochemical producers rose 14.5% in March, while domestic food consumption fell 8.3%. Palm oil exports rose 3.3% to 2.72 million tonnes, with large gains to Bangladesh, South Africa and China.
Stronger industrial and export demand absorbs palm supply that would otherwise go to domestic food use, which is mildly supportive for palm oil prices.
ofimagazine.comJun 2, 2020After 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.
