
Crude palm oil buyers stocked up ahead of higher export duties in Malaysia and Indonesia, pushing the daily price above RM4,400 per tonne in the week of October 24, 2024. Prices rose about 15 percent from an August 2024 low.
Analysts said tight supply and the duty changes were driving purchases and that palm oil's premium over soybean oil would persist.
Forward buying ahead of duty increases and tight supply lift near-term palm oil demand and prices. The premium over soybean oil can also shift buying toward palm in edible oil and biodiesel markets.
Setelah 133 peristiwa perdagangan bullish sebelumnya, Minyak Sawit bergerak median +0,7% selama 5 sesi (64% lebih tinggi; separuh tengah -0,8% sampai +2,3%), dan +1,7% selama 20 sesi.
Setelah 152 peristiwa perdagangan bearish sebelumnya, Minyak Kedelai bergerak median -0,2% selama 5 sesi (47% lebih tinggi; separuh tengah -2,1% sampai +2,1%), dan -0,1% 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.
Buyers stocking up ahead of higher export duties and tight supply pushed prices higher in late October, feeding the rally.