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Palm oil demand from China, the world's No.2 importer, is set to drop in coming months as supplies of alternative edible oils flood local markets, according to industry sources. Benchmark palm oil prices have already shed 15% since the start of the year.
Weaker Chinese import demand removes a key support for palm prices, adding downward pressure on the palm oil complex and competing vegetable oils.
thestar.com.myThe Star OnlineMay 24, 2017After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% over 20.
After 152 past bearish trade events, Soybean Oil moved a median -0.2% over 5 sessions (47% higher; middle half -2.1% to +2.1%), and -0.1% 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.
