Palmetto slips with a second consecutive weekly loss
Palm oil ended lower on Friday, and recorded a second consecutive weekly loss. This was due to a decline in Chicago soyoil and the persistently slow performance of Malaysian palm oil exports. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange lost 37 ringgit or 0.84% to 4,376 Ringgit ($990.27). The contract has lost 4.37% in the last week. Anilkumar bagani, Sunvin Group's head of research, said that the futures traded sideways with prices opening lower. This was due to the weakness in Chicago soybean futures as well as a slowdown in Malaysian palm oil. Both countries are among the top palm oil importers in the world.
VEGOILS - Palm up in hopes of better demand, but second consecutive weekly loss
Palm oil prices rose on Friday, on the hope of improved demand from India and China. However, they were still heading for their second consecutive weekly loss because of weakness in Chicago soyoil contracts and Malaysian palm oil exports that have been slowing down. By midday, the benchmark contract for palm oil delivery in June on the Bursa Derivatives Market gained 5 ringgit or 0.11% to 4,418 Ringgit ($999.32). This week, the contract has fallen by 3.45%. Anilkumar bagani, Sunvin Group's head of research, said that the futures traded sideways with prices opening lower. This was due to the weakness in Chicago soybean futures as well as a slowdown in Malaysian palm oil.
Export data from surveyors show palm gains on Dalian
The price of Malaysian palm oils futures rose for the second consecutive session on Thursday. This was due to the strong performance in Dalian and the newly released export surveyors data. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 26 ringgit or 0.59% to $4,415 ringgit (US$997.97) per metric ton. A Kuala Lumpur based trader stated earlier that the futures rose due to Dalian, while awaiting export data which would lead the market in the afternoon. Dalian's most active palm oil contract grew by 0.93%, while the soyoil contract that was traded fell 0.62%. The Chicago Board of Trade's (CBOT's) soyoil price fell 0.73%.
Palm logs weekly losses; low demand puts pressure on the market
Malaysian palm futures rose marginally on Friday, but posted a loss for the week as profit-taking and weaker demand in major destination countries kept market pressure. The benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange gained 39 ringgit or 0.86% to 4,578 Ringgit ($1,030.38) per metric ton. The contract has fallen by 1.02% this week. Anilkumar bagani, the head of research for Mumbai-based Sunvin Group, says that crude palm oil is under pressure due to profit-taking, as it's forced to reduce its widening premium over other oils.
Palm on course for a weekly loss due to weak demand
Malaysian palm futures rose on Friday, after earlier falling. However, the market was still set to lose money for the week as profit-taking along with weak demand in key destinations countries kept it under pressure. After touching an intraday minimum of 4,500 ringgit the benchmark May palm oil contract on Bursa Malaysia's Derivatives exchange gained 1 ringgit or 0.02% to 4,540 Ringgit ($1,021.83) per metric ton at the midday break. This week, the contract has fallen by 2.08%. Anilkumar bagani, the head of research for Mumbai-based Sunvin Group, explained that crude palm oil has seen a decline in price due to profit taking.
Palm prices rise on fear of lower production, but demand is weak.
Malaysian palm futures rose Thursday, supported by lower production levels. However, persistent concerns about demand from key import countries limited gains. By midday, the benchmark May palm oil contract on Bursa Derivatives Exchange had gained 46 ringgit or 1.03% to 4,533 Ringgit ($1,023.71) per metric ton. The contract fell 2.98% over the last three sessions. The palm oil market is resilient despite the recent sell-offs due to uncertainty in global markets over tariffs. Production has not increased even since March while demand remains a concern," stated Paramalingam Supramaniam of Selangor brokerage Pelindung Bestari.
Palm climbs up stronger Dalian palm
The price of Dalian palm oil, which is the main source of palm oil in Malaysia, has been rising steadily, and this helped to support the market on Wednesday. By midday, the benchmark May palm oil contract on Bursa Derivatives Exchange had gained 22 ringgit (0.49%) to 4,510 Ringgit ($1,018.06) per metric ton. The contract dropped 2.96% over the last two sessions. A Kuala Lumpur based trader stated that the recovery in Dalian palm oil is supporting the crude palm oils prices. The spot month contract for March has held firm and provided additional price support. Dalian's palm oil contract, which is the most active contract, gained 0.83% while soyoil fell by 0.81%.
Palm slips due to weaker Dalian oil; Indian imports increase limit fall
The Malaysian palm futures continued to decline for a second consecutive session on Tuesday. Pressured by Dalian Oils, whose prices were lower, an increase in India’s palm oil imports helped limit the loss. At the close, the benchmark contract for palm oil delivery in May on the Bursa Derivatives Exchange fell 11 ringgit or 0.24% to 4,488 Ringgit ($1,017.69). David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd. He said that the market was down because of soybean oil's overnight drop and Dalian’s weakness. These factors were mainly influenced by U.S. tariffs and China tariffs.
Palm oil is a weaker competitor to other oils
The price of Malaysian palm oils futures dropped for the second session in a row on Tuesday. This was due to weaker edible oils from rival producers and concerns over U.S. tariff policies. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange fell 59 ringgit or 1.31% to 4,440 Ringgit ($1,002.71) per metric ton. David Ng, a proprietary trading at Kuala Lumpur's Iceberg X Sdn. Bhd., explained that the market was down because of soybean oil's overnight drop and Dalian weakness. This was primarily due to U.S. and China tariffs, as well as lower crude oil prices.
VEGOILS - Palm falls due to profit taking, Chicago soyoil weakness, and bearish MPOB stock
Malaysian palm futures ended three sessions of consecutive gains on Monday. Profit-taking and lower Chicago soyoil price pressures, as well as a slower than expected decline in inventories, were to blame. The benchmark contract for palm oil delivery in May on the Bursa Derivatives Exchange fell 123 ringgit (2.66%) to close at 4,502 Ringgit ($1,018.32). Anilkumar bagani, the commodity research director at Mumbai's Sunvin Group, said that during Asian hours, the market traded lower due to profit-taking and weakness in Chicago Soyoil Futures. Dalian's palm oil contract gained 0.84%, while the most active soyoil contract increased by 0.7%.
Palm falls due to profit-taking and weakness in Chicago Soyoil
Malaysian palm futures dropped on Monday, ending three sessions of gains. Profit-taking and lower Chicago soybean oil prices were to blame. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for May delivery fell 18 ringgit or 0.39% to 4,607 Ringgit ($1,043.02), a metric tonne. Anilkumar bagani, the commodity research director at Mumbai's Sunvin Group, said that during Asian hours the market traded lower due to profit-taking and weakness in Chicago Soyoil Futures. Dalian's palm oil contract, which is the most active contract, rose by 1.62%.
Palm oil is gaining on rival oils, but caution prevails in the face of US tariffs
Malaysian palm futures rose on Thursday as they tracked the movement of rival oils in Dalian and Chicago, but caution about U.S. Tariffs limited gains. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives Market had risen by 2 ringgit or 0.05% to 4,419 Ringgit ($998.42). Anilkumar bagani, research head at Mumbai-based Sunvin Group, says that the market remains cautious due to confusion regarding U.S. Tariffs on Mexico and Canada. The direction of the soy oil, rapeseed, and canola futures are also unclear from North American and European markets. China has retaliated to the new U.S.
VEGOILS - Palm oil gains over Chicago soyoil; inventory data to be released
After two sessions of losses on the Chicago Soyoil Market, the Malaysian Palm Oil Board's futures prices rose on Wednesday. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange was up 21 Ringgit or 0.48% to 4,370 Ringgit ($983.13) per metric ton. On March 10, the Malaysian Palm Oil Board will release its monthly statistics. The Chicago Board of Trade's (CBOT), which trades soyoil, rose by 0.58%. Dalian's palm oil contract, however, fell 1.16 % and its most active contract, a contract for Dalian’s most active contract, lost 1.3%.
Palm oil falls on weaker Dalian oil, Sino-US Tariff War
Malaysian palm oils futures ended lower on Tuesday due to weaker Dalian oils, and fears over China's response to new U.S. duties on Chinese products. The benchmark May palm oil contract on Bursa Derivatives Exchange dropped 137 ringgit or 3.06% to close at $4,347 ringgit (US$973.79) per metric ton. This was the lowest close for nearly a whole month. China had retaliated swiftly against new U.S. import tariffs earlier in the day. It raised import levies on $21 billion of American agricultural and foodstuffs and moved the world's two largest economies closer to a full-blown trade war. "China has taken countermeasures to U.S.
Palm oil falls due to weaker Dalian oils, and US tariffs
Malaysian palm futures fell on Tuesday due to weaker Dalian oils, and worries about upcoming U.S. trade tariffs against key trading partners. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange fell by 105 ringgit or 2.34% to 4,379 Ringgit ($980.74) per metric ton. The increasing uncertainty on the global vegetable markets has also scared traders, said Paramalingam Supramaniam. Director at Selangor-based brokerage Pelindung Bestari. Palm oil contracts in Dalian fell 2.8%, while soyoil contracts lost 1.15 percent. The Chicago Board of Trade's (CBOT), which trades soyoil, saw a rise of 0.23%.
Palm oil prices fall on weaker export data and a muted competition.
Malaysian palm futures fell on Monday, following a drop in the prices of rival oils. The weakening exports of palm oil from Malaysia in February also affected sentiment. The benchmark May palm oil contract on Bursa Malaysia's Derivatives Exchange fell 71 ringgit or 1.56% to close at $4,483 ringgit per metric tonne. The market also reacted to the lower performance of Malaysian palm oil in February. Dalian's palm oil contract, which is the most active contract in Dalian, lost 0.46% while soyoil rose by 0.25%. The Chicago Board of Trade's (CBOT) soyoil price fell by 0.14% from the Friday closing level. However, it reversed its course and closed 0.11% higher.
Palm oil drops on weaker exports and a decline in rival oils
Malaysian palm futures fell on Monday, following a drop in rival oils. Weakness in palm oil exports from Malaysia in February also affected sentiment. By midday, the benchmark contract for palm oil delivery in May on Bursa Malaysia's Derivatives exchange had fallen 67 ringgit or 1.47% to 4,487 Ringgit ($1,005.60 per metric tonne). The market also followed the lower performance of Malaysian palm oil in February. Dalian's palm oil contract, which is the most active contract in Dalian, lost 0.4%. The Chicago Board of Trade's (CBOT's) soyoil price fell by 0.14% from the Friday closing level, but then reversed direction to trade up by 0.32%.
Palm oil to see fifth-week gain due to concerns over production
Malaysian palm futures were up on Friday, and on course for their fifth consecutive weekly gain. This would be the longest winning streak in three years. The market was supported by expectations of a weaker production. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives exchange had gained 58 Ringgit or 1.25% to 4,700 Ringgit ($1,063.83) per metric ton. This week, the contract has increased by 2.47%. David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn Bhd. He said that the market was trading higher because of expectations for a lower output in Malaysia. This could lead to a reduction in overall stock levels.
Palm oil climbs as rival oils firmer and output concerns increase.
Malaysian palm futures prices rose on Wednesday due to stronger edible oils from rival producers and concerns about production. Increased buying in anticipation of an industry conference was also supportive. At midday, the benchmark May palm oil contract on Bursa Derivatives Exchange rose 82 ringgit or 1.82% to 4,586 Ringgit ($1,032.65) per metric ton. The contract dropped 0.84% on Monday. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari. He said that the palm oil market has a positive trajectory, in sync with the growth in Dalian and Chicago.
Palm closes over 3% higher due to stronger rival oils and output concerns
Malaysian palm futures closed more than 3% higher Wednesday. Prices were boosted by the stronger edible oils of rivals and concerns about production. Increased buying in anticipation of an industry conference was also supportive. The benchmark May palm oil contract on the Bursa Derivatives Market gained 169 Ringgit or 3.75%. It closed at 4,673 Ringgit ($1,052.95) per metric ton after hitting an intraday peak of 4,695 Ringgit. The contract dropped 0.84% during the previous session. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari. He said that the palm oil market has a positive trajectory, in sync with the growth in Dalian and Chicago.
