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An analyst warned that Indonesian palm oil stocks could reach a high of 5.5 million tonnes by year-end despite the government's biodiesel mandate push. Indonesia's trade ministry kept the crude palm oil export tax at zero for September.
Palm prices have been testing support levels.
A large Indonesian stockpile would add export availability and weigh on palm prices, though biodiesel demand provides some offset. The zero export tax keeps Indonesian exports competitive.
prestasisawit.mpob.gov.myAug 28, 2018After 400 past bearish policy events, PALMOIL moved a median -0.0% over 5 sessions (49% higher; middle half -1.3% to +1.1%), and +0.2% over 20.
After 196 past neutral policy events, SBO moved a median +0.1% over 5 sessions (52% higher; middle half -1.6% to +2.0%), 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.
