Palm oil prices rise but a stronger ringgit and weak demand cap gains
Malaysian palm futures edged higher on Friday, after three sessions of decline. The gains were limited by the stronger ringgit, and weak demand in key markets. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 0.41% to 3,927 Ringgit ($914.53) per metric tonne. The contract has fallen by 3.6% this week. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, stated that the return to trading for crude palm oil futures was bullish, after the surge in Chicago energy and soyoil futures overnight.
Palmetto prices end higher in Dalian and rising inventories
Malaysian palm oils futures rose on Thursday, wiping out the losses of the previous session. They were supported by strong rival oils in Dalian, and data from Malaysian Palm Oil Board, which showed an increase in March inventories. The benchmark June palmoil contract traded on the Bursa Derivatives Exchange in Malaysia gained 53 ringgit or 1.28% to 4,201 Ringgit ($940.66) per metric ton. A Kuala Lumpur trader stated earlier that "the futures react to the rival oil's rise", adding that the export data from MPOB will give clues on the way forward.
Palm oil falls as fears over Trump's tariffs weigh on crude and soyoil
The price of Malaysian palm oil futures fell on Friday due to the weaker Chicago crude oil and soyoil prices. This was a result of President Donald Trump’s reciprocal tariffs, which increased uncertainty in global trade. The benchmark contract for palm oil delivery in June on Bursa Derivatives Exchange fell 160 ringgit or 3.56% to 4,329 Ringgit ($976.32) per metric ton. The contract dropped by 2.04%, wiping out the gains of the previous week. A Kuala Lumpur based trader reported that crude palm oil futures followed the weaker prices of soybean and crude oil due to global uncertainty following Trump's tariff announcement.
The Malaysian palm is poised to gain a weekly profit on the strength of physical demand
The price of Malaysian palm oils rose for the third session in a row on Friday. This was due to strong demand before Eid al-Fitr, an Islamic holiday. Also, rival vegetable oil prices were strong. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for June delivery had gained 80 ringgit or 1.86% to $4392 ringgit (US$991.20) per metric ton. The contract is expected to gain 0.39% this week, the first weekly gain for three weeks. Bursa Malaysia is closed Monday and Tuesday, if Eid falls Monday, March 31.
Malaysian palm oil rises in second session of strong Dalian oils
Malaysian palm futures rose on Thursday for the second consecutive session, following the strength of the Dalian market as China shifts to purchasing palm oil in response to a trade dispute with Canada. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 54 ringgit or 1.27% to 4,313 Ringgit ($973.81) per metric ton. The ongoing China-Canada canola oil trade is supporting palm prices. China has shifted from buying canola oil to palm," said a Kuala Lumpur based trader. The Dalian Commodity Exchange's palm oil contract gained 0.54% while the most active soyoil contract gained 0.48%.
Malaysian palm oil rises in second session with support from rival oil
Malaysian palm futures rose on Thursday for the second time, following strength on the Dalian market as China switched to palm oil in response to a trade dispute with Canada. By midday, the benchmark contract for palm oil delivery in June on Bursa Derivatives Malaysia Exchange had gained 35 ringgit or 0.82% to 4,277 Ringgit ($965.90), a metric tonne. The ongoing China-Canada canola oil trade is supporting palm prices. China has, thus, switched to buying palm," said Kuala Lumpur based trader. The Dalian Commodity Exchange's palm oil contract gained 0.54% while the most active soyoil contract grew by 0.36%.
Malaysian palm oil drops, rivals follow suit
The price of Malaysian palm oils futures fell for a third consecutive session on Tuesday. This was in line with the declines in rival vegetable oil markets such as Dalian and Chicago, while investors waited to see export data. By midday, the benchmark palm oil contract on the Bursa Derivatives Exchange for June delivery had fallen 29 ringgit or 0.67% to 4,276 Ringgit ($963.71) per metric ton. According to Amspec Agri Malaysia, the company that inspects palm oil in Malaysia, exports of palm oil for the period March 1-25 are expected to fall by 8.47% on a monthly basis.
Palm oil falls due to Dalian Oil's weakness; soft ringgit caps losses
The Dalian Commodity Exchange saw a decline in the price of vegetable oil, which pushed down the palm oil futures for the second session running. However, a weaker currency helped to limit the losses. By midday, the benchmark contract for palm oil delivery in June on Bursa Derivatives Exchange had fallen 35 ringgit (0.8%) to 4,340 Ringgit ($979.02). The contract follows weak external markets, but the ringgit's weakness cushions some losses," said Kuala Lumpur based trader. Dalian's palm oil contract, which is the most active contract, fell 1.34% while soyoil prices dropped by 1.2%.
Australian shares are led higher by banks and retailers.
Australian shares followed Wall Street's rise on Thursday. Financial stocks and consumer discretionary companies led the charge, after investor concerns about a global war of trade began to fade. As of 2350 GMT, the S&P/ASX 200 Index rose by 0.9% to 8,490.7. The benchmark closed Wednesday 0.5% higher. Overnight the Dow Jones Industrial Average in the U.S. rose 0.71%. The S&P 500 increased by 0.39%. Nasdaq gained 0.19%. Investors ignored the comments of President Donald Trump, who said that the U.S. wanted to develop the economically-destroyed Gaza Strip.
Palm oil's performance is lower due to weakness in Chicago Soyoil
The price of palm oil in Malaysia ended lower Tuesday after a five session winning streak. Chicago soyoil fell as the U.S. announced it would delay implementing tariffs against Mexico and Canada. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.44% to 4,304 Ringgit ($969.37). A Kuala Lumpur based trader stated that the crude palm oil futures fell due to weakness in the Chicago soybean oil market. The trader stated that "the news that the U.S. Chicago Board of Trade soyoil fell by 2.54%.
Palm oil rises as Chicago soyoil and crude oil strengthen
Malaysian palm futures rose Monday for the fifth session in a row, boosted by a stronger Chicago soyoil price and higher crude oil prices. By midday, the benchmark contract for palm oil delivery in April on the Bursa Derivatives exchange had gained 63 Ringgit (1.47%) to 4,352 Ringgit ($969.91). In the last four sessions, it gained 2.36%. Anilkumar bagani, commodity researcher at Mumbai's Sunvin Group, said that the futures for crude palm oil (CPO), which are based on Chicago soyoil, have been moving higher since last Friday. He said that U.S. President Trump’s import tariffs against Mexico, Canada, and China have pushed up U.S.
VEGOILS - Palm oil prices settle higher despite uncertainty over Indonesia's export tax and US tariff threats
Malaysian palm futures recovered from early losses on Friday to record a second weekly gain. A stronger Chicago soyoil, a weaker dollar, and market uncertainty about Indonesia's export rate and U.S. Tariff threats offset the gains. The benchmark contract for palm oil delivery in April on Bursa Derivatives Exchange closed at 4290 ringgit (US$964.04), up 11 ringgit or 0.26%. The contract rose 1.76% after rising 0.62% last week. Paramalingam Supramaniam of Selangor's brokerage Pelindung Bestari said that the possibility of a reduction of 9% to 10% in Indonesian crude oil export levies…
Palm oil prices fall on Indonesian export levies and US tariff threats
Malaysian palm futures declined on Friday, as trading resumed following a two-day Lunar New Year break. The market was weighed down by uncertainty about Indonesia's export rate and U.S. Tariff threats. By midday, the benchmark April palm oil contract on Bursa Derivatives Exchange fell 19 ringgit or 0.44% to 4,260 Ringgit ($963.36) per metric ton. The contract is up 1% this week, after last week's 0.62% increase. Paramalingam Supramaniam of Selangor's brokerage Pelindung Bestari said that the possibility of a reduction of 9% to 10% in Indonesian crude oil export levies…
VEGOILS-Palm closes higher despite weak demand, Indonesia export rate uncertainty
The price of Malaysian palm oils futures rose on Tuesday after recovering from losses earlier in the day. However, a sluggish market demand, uncertainty about Indonesia's export rate and a slight increase in domestic production limited its gains. At the close, the benchmark April palm oil contract on Bursa Derivatives Exchange rose 64 ringgit or 1.52% to 4,282 Ringgit ($975.84). The contract has risen 0.67% over the last two sessions. Anilkumar bagani, head of commodity research at Mumbai's Sunvin group…
Palm oil ends lower due to losses in soyoil; weaker Ringgit limits decline
Malaysian palm futures fell for the second consecutive session on Monday, giving up gains made at midday following losses by rival soyoils. However, a weaker Ringgit helped limit losses. Bursa Derivatives Exchange benchmark contract dropped 1.2% at close to 4,758 Ringgit ($1,069.21). The contract dropped more than 4% in the last week. Anilkumar bagani, head of commodity research at Mumbai's Sunvin group, said that the prices for crude palm oil futures opened lower but recovered at midday on the back of bargain-buying following the steady performance seen in other oils, notably soyoil, rapeseed and rapeseed.
Palm oil rebounds on Dalian Oils, stronger rival, and a weaker ringgit
Malaysian palm futures recovered on Monday following the recovery of rival Dalian oils as well as a weakening of the ringgit. By midday, the benchmark contract of Bursa Derivatives' Exchange rose 0.23% ($1,082.77) to 4,827 Ringgit ($1,082.77) per metric ton. The contract dropped more than 4% in the last week. Anilkumar bagani, head of commodity research at Mumbai's Sunvin group, said that although crude palm oil futures started lower, they quickly recovered due to bargain-buying following the steady performance seen in other oils, notably soy and rapeseed, he added.
Palm oil futures in Malaysia rise on Dalian's market.
The price of Malaysian palm oils futures increased for the second session in a row on Wednesday. This was fueled by the strong Dalian vegetable oil contract. However, the market focus was on the November poll conducted among planters and analysts to determine the direction. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery gained 47 ringgit or 0.93% to $5,122 ringgit (1,148.17 USD) per metric ton. A Kuala Lumpur based trader stated that the market tracks the gains in vegetable oil on the Dalian Commodity Exchange.
Cargill estimates that China's palm oil demand in 2024 will drop 30% year-on-year.
A Cargill executive said that the demand for palm products in China will drop by 30% between 2024 and 2019. This is because high prices have made it less appealing than soyoil, while vegetable oil demand stagnates. The benchmark palm oil price in Malaysia has risen over 30% this year, despite the fact that production in Indonesia's top producer is falling and there are positive sentiments about its plans to expand its biodiesel mandate. Ryan Chen, director of Cargill Investments China Ltd, said at the Indonesian…
Palm prices fall as India rejects premium prices and funds drive the market
Malaysian palm futures declined on Friday, but were still on track to have their best week in over 16 months. India pulled back from purchasing due to a growing premium for soft oils. Fund positions are driving the current prices. During the midday break, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for delivery in January fell 16 ringgit or 0.35% to 4,587 Ringgit per metric ton. The contract is on track to achieve its largest weekly gain since June 2023. A Mumbai-based trader at a global trading house stated that palm oil is currently selling at a premium to other soft oils.
Palm surges on data from cargo surveyors and rival oils, logging a 4th weekly gain
Malaysian palm futures gained more than 2% Friday, logging a fourth consecutive weekly gain. This was due to stronger rival edible oils as well as positive data from cargo surveyors. The benchmark palm-oil contract for December delivery at Bursa Malaysia's Derivatives exchange rose by 117 ringgit or 2.76% to 4,350 Ringgit ($1,015.41) per metric ton. This week, the contract increased by 1.16%. Darren Lim is a commodities analyst with Singapore-based Philip Nova. He said that the market's performance was influenced by several factors including the robust export data from cargo surveyors covering the period Oct.
