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India's Solvent Extractors' Association urged members to avoid buying Malaysian palm oil in solidarity over Kashmir, after Malaysia's prime minister criticised India's Kashmir policy. Indian buyers largely shifted purchases from Malaysia to Indonesia as a precaution, and India had bought over 4 million tonnes from Malaysia in January-October 2019.
A boycott by India, the largest edible oil importer, removes a major source of demand for Malaysian palm oil and shifts purchases toward Indonesia. This pressures Malaysian palm oil prices and export volumes.
bbc.comUpasana Bhat, Pratik JakharJan 1, 2020After 158 past bearish trade events, Palm Oil moved a median +0.0% over 5 sessions (51% higher; middle half -1.3% to +0.8%), and -1.4% 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.
