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Malaysian palm planters expect a severe labor shortage because Indonesian workers who usually cross the border for harvests are staying away amid a weaker ringgit. Planters warn that late picking could delay harvests and lower extraction rates.
Palm oil prices have already fallen nearly 15% this year.
A harvest labor shortage could cut output and support palm oil prices, although the effect depends on how long the shortage lasts.
reuters.comEmily ChowApr 7, 2017After 15 past bullish logistics events, Palm Oil moved a median -0.1% over 5 sessions (47% higher; middle half -2.4% to +3.9%), and +0.5% 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.
