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Indonesian industry bodies and analyst Dorab Mistry reviewed the crude palm oil outlook for 2017. El Nino cut Indonesian output from 32.5 million tons in 2015 to a projected 30 million in 2016, and CPO prices recovered from a multi-year low of USD 526 per ton in November 2015 to an expected average of USD 670 in 2016.
Weather-driven output losses tightened supply and supported prices through 2016. The expected recovery in 2017 output is the key factor for whether that price support persists.
indonesia-investments.comIndonesia InvestmentsDec 2, 2016After 181 past bullish weather events, Palm Oil moved a median +0.5% over 5 sessions (56% higher; middle half -0.9% to +1.9%), and +0.3% 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.
