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Malaysian palm oil output fell more than 6 percent in November to 1.57 million tonnes, above a Bloomberg survey estimate of a 3 percent drop. End-stocks rose to 1.66 million tonnes, less than expected, and exports fell 4 percent.
Drought continued to affect oil palm trees.
Lower output and tighter stocks support palm oil prices, which feed buyers use as a substitute in some rations. The smaller-than-expected stock build points to firmer supplies.
biofuelsdigest.comMeghan SappDec 15, 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.
