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Indonesian palm oil product exports rose just 2% month on month to 2.6 million tons in May, with declines to Pakistan, the Middle East, China and Europe. Pakistan shifted demand to Malaysia, which imposed a zero export tax on crude palm oil derivatives from May.
Flat export growth and low stocks of 621,000 tons support palm oil prices, while Malaysia's tax advantage redirects trade flows between the two top producers.
english.kontan.co.idThe Jakarta PostJul 20, 2017After 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.
