Loading…
A Reuters survey projected Indonesia's December 2017 crude palm oil exports edged down to 2.51 million tonnes from 2.52 million in November, while output fell to 3.52 million tonnes. Lower Indian demand after an import tax hike and competition from Malaysia's levy-free exports are weighing on Indonesian shipments.
Stockpiles were forecast to fall to 3.2 million tonnes.
Softer Indonesian export volumes and falling output tighten global palm supply somewhat, but competition from duty-free Malaysian cargoes limits the price support.
gimni.orgGabungan Industri Minyak Nabati IndonesiaJan 22, 2018After 66 past neutral report events, Palm Oil moved a median +0.2% over 5 sessions (58% higher; middle half -0.4% to +2.0%), and +2.2% 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.
