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Oil World reports palm oil exports from Indonesia and Malaysia totalled 39.4 million tonnes in 2016, down 4.6 million tonnes from 2015. Indonesian biodiesel consumption rose by 2.1 million tonnes, while imports fell in the EU, India and China.
Lower exports from the two main origins combined with rising Indonesian biodiesel use tighten the export supply available to importers, which is supportive for palm oil prices.
grainsprices.comGate.BGMar 2, 2017After 149 past bullish report events, PALMOIL moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% 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.
