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Indonesia's palm oil export value rose 8% in 2016 to US$17.8 billion, even as volume fell about 2% to 25.7 million tonnes. The increase reflected a 41.4% rise in CPO prices during 2016, which the agency attributed to El Niño-related output losses in Indonesia and Malaysia.
The palm oil fund BPDP said it will continue supporting the B20 biodiesel program.
Lower export volumes and El Niño-driven production losses have tightened the palm oil market, supporting prices, while biodiesel support sustains domestic demand.
petrominer.comSony AndesJan 10, 2017After 149 past bullish report events, Palm Oil 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.
