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Malacca Research says the EU's vote to phase out palm oil in biofuels by 2021, along with falling Chinese imports and higher Indian import tariffs, could lift global palm oil stocks. USDA expects 2018 ending stocks to rise 27%, implying output above demand.
The note frames the outlook as creating acquisition opportunities.
Rising global stocks and weaker import demand from the EU, China and India point to downward pressure on palm oil prices.
malaccaresearch.comChrisFeb 15, 2018After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
