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Indonesia is the world's largest palm oil producer, with 54% of global supply in 2016 according to USDA data. CPO output rose 10% in 2016 to 32.5m tonnes, and USDA projects 2017/18 production of 36.5m tonnes, while Indonesian CPO prices eased in early 2017 after a 2016 rally.
Projected supply growth of about 12% points to ample palm oil availability, which tends to weigh on prices and competes with other vegetable oils.
oxfordbusinessgroup.comOBG AdminDec 23, 2017After 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.
