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Indian palm oil imports in July are estimated to have jumped about 46% to 823,000 tonnes, the highest since September. Refiners and traders increased purchases as stockpiles fell and food service demand recovered after lockdown easing.
India is the largest palm oil buyer, so a sharp rise in its imports tightens global palm supply and supports prices. Stronger import demand also points to firm vegetable oil markets.
bloomberg.comPratik ParijaAug 5, 2020After 133 past bullish trade events, Palm Oil moved a median +0.7% over 5 sessions (64% higher; middle half -0.8% to +2.3%), and +1.7% 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.
