Price support in global markets for vegetable oils was swept away again this Saturday as Indonesia announced additional exports to be permitted. The combination of increased production due to the high production season in south-east Asia and the previously applied export ban in Indonesia have caused stock levels in Indonesia to be very high, which has led to the newly announced measures.
The high stock levels, combined with low consumption, have put a lot of pressure on palm oil prices, dragging prices for other oils down in its path. Not to mention the change in sentiment regarding the current economic landscape, causing more buyers to wait due to the large amount of uncertainty.
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