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Crude palm oil closed at MYR 4,708 a tonne on Friday, down 4.1% and the lowest since June 24, while staying below the MYR 5,000 level. Prices fell after Indonesia introduced an accelerated export program, known as flush out, which pushed prices down 14.5% in the prior week.
Industry attention is on possible further government measures.
The flush-out program accelerates Indonesian exports and clears domestic stocks, adding supply to global palm markets and pressuring prices. Further policy changes could either reinforce or reverse this pressure.
cnbcindonesia.comMaesaroh3 Jul 2022Setelah 400 peristiwa kebijakan bearish sebelumnya, Minyak Sawit bergerak median -0,0% selama 5 sesi (49% lebih tinggi; separuh tengah -1,3% sampai +1,1%), dan +0,2% 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.
Explains that CPO fell after Indonesia's accelerated export (flush out) program, which pushed supply into the market and drove a sharp weekly drop to the lowest since June 24.
Prices fell 4.1% on July 1 after Indonesia's accelerated export (flush out) program added to export supply.
Describes Indonesia's accelerated export (flush out) program pushing prices down and the prior Friday's 4% drop, setting up the supply-glut momentum into the move.
