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Palm oil is expected to miss its usual Ramadan demand surge because COVID-19 lockdowns are curbing purchases by major importers including India, Pakistan, Bangladesh, Saudi Arabia and Iran. Purchases had picked up in early March but slumped after lockdowns began.
Malaysian palm oil exports in March fell 27% year on year to 1.2 million tonnes.
The loss of the seasonal Ramadan restocking window removes a demand boost that normally supports prices, so prices may stay under pressure through the period.
ofimagazine.comQuartz Business Media1 Mei 2020Setelah 158 peristiwa perdagangan bearish sebelumnya, Minyak Sawit bergerak median +0,0% selama 5 sesi (51% lebih tinggi; separuh tengah -1,3% sampai +0,8%), dan -1,4% selama 20 sesi.
Pergerakan benchmark setiap komoditas dari penutupan terakhir sebelum peristiwa. Pembacaan historis menggabungkan peristiwa serupa di masa lalu; itu menggambarkan apa yang terjadi, bukan apa yang akan terjadi. Bukan nasihat investasi.
Lockdowns are curbing the usual Ramadan buying by major importers, removing seasonal demand support.
Lockdowns are cutting importer purchases and the usual Ramadan demand surge is expected to be missed, a bearish demand signal published 2020-05-01 inside the window.
