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GAPKI reports Indonesia's 2017 palm oil output rose about 18% to 41.98 million tonnes including PKO, with year-end stocks at 4.02 million tonnes. Palm oil and derivative exports rose 23% in 2017, and the average CPO price was $714.3 per tonne, up 2%.
Higher Indonesian output and stocks point to ample palm oil supply, which tends to weigh on vegetable oil prices and pressure substitute oils and meals.
gapki.idadminFeb 2, 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.
After 146 past bearish report events, Soybean Oil moved a median -0.0% over 5 sessions (49% higher; middle half -1.8% to +1.9%), and +0.4% 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.
