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Coronavirus lockdowns during Ramadan and Hari Raya are expected to keep palm oil demand from Muslim-majority importers such as India, Pakistan, Bangladesh, Saudi Arabia and Iran well below its usual seasonal peak. Purchases picked up in early March but slumped as lockdowns spread, and Malaysia's March palm oil exports fell 27% year on year.
Malaysia's benchmark crude palm oil price has already dropped nearly 30% since January 23.
Missing the Ramadan restocking window removes a key source of seasonal demand, which adds downward pressure on Malaysian crude palm oil prices and on vegetable oil values more broadly.
staging.malaysiakini.comReuters21 apr 2020Na 158 eerdere neerwaarts handel-gebeurtenissen bewoog Palmolie zich mediaan +0,0% over 5 sessies (51% hoger; middelste helft -1,3% tot +0,8%), en -1,4% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
