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A Reuters survey expects Malaysian palm oil stocks to dip about 0.7% in September to 2.47 million tonnes from August seven-month highs, as exports jumped about 50% after Malaysia cut its crude palm oil export tax to zero. Benchmark prices had rebounded from three-month lows to around 2,231 ringgit.
Falling stockpiles and strong export demand from India ahead of Diwali support palm oil prices in the near term.
thestar.com.myThe Star OnlineOct 5, 2018After 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.
