The largest producers of CPO in the world is Indonesia (top one) and Malaysia (ranked second). In Malaysia, we have ITS and SGS who will release data about the export of CPO to the importer country every 5 days. This will be a measure to gauge the demand of CPO. Better-than-expected or increasing in exports indicates demand is increased.
Besides that, MPOB will also release data about the stockpiles of CPO produced in Malaysia every 10 days. Increasing in stockpiles indicates supplies is increased and thus will pressure the price. Hence, these two kind of data will be a measure of how the supply and demand of CPO.
Besides that, what makes Crude Palm Oil (CPO) an important commodity to the world is because this kind of oil is extensively being used in any kind of cooking materials whatsoever. Besides, it is among the commodities that produces a lot of oil yield, much higher compared to other commodities, having productivity cycle of 25 years from a tree.
Hence, among the factor to watch out if you are interested to trade in FCPO are as follows:
1) demand and supplies like being explained above
2) weather anomalies- bad weather will affect CPO crop and hence reduce the production (supply)
3) soybean development- us soybean can be regarded as the substitute for CPO, however, the relationship between these two is not as what you think. Simply speaking, both have correlated relationship where if soybean is doing well, most likely CPO will also be doing well.
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