Loading…
The Indonesian Palm Oil Producers Association (GAPKI) revised its 2016 palm oil production to 35.57 million tons and year-end stocks to 3.57 million tons, up from earlier figures of 34.5 million and 1.07 million. Stocks fell to 2.85 million tons in January as exports rose 2 percent and output dropped 9 percent month on month.
Higher revised stock levels and a sharp January output drop give mixed signals, but larger inventories add bearish pressure on palm oil prices over time.
thejakartapost.comStefani RibkaMar 27, 2017After 96 past bearish report events, Palm Oil moved a median -0.1% over 5 sessions (48% higher; middle half -1.3% to +1.6%), and -0.9% 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.
