Palm prices rise on higher soyoil and crude oil prices; second week of gains expected
Malaysian palm futures rose more than 2% Friday on the back of higher soyoil, crude oil and positive estimates for domestic exports. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 134 Ringgit or 2.85% to 4,830 Ringgit ($1,103.24). The contract has gained 3.53% this week, and is expected to gain a second consecutive weekly. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd.
Palm gains from better export estimates and expectations of low output
After two sessions of declines, Malaysian palm oil futures eked out a slight gain on Monday, backed by increased export estimates and expected seasonal palm production decreases. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 49 ringgit or 1.15% to 4,304 Ringgit ($1,001.16), a metric tonne, during the lunch break. The contract dropped 1.3% over the last two sessions.
Export data for Malaysia 2025 shows palm oil prices falling on the back of profit-taking.
Profit-taking led to a reversal of gains in the Malaysian palm oil futures on Friday, although traders are expecting the market to be supported by the announcement of the Malaysian budget for 2025 and the export data. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange fell 7 ringgit or 0.16% to 4,271 Ringgit ($992.33) per metric ton at the midday break. The contract is down 1.82% this week after four weeks of gains.
Palm extends its loss due to rival oil weakness
The price of Malaysian palm oils futures continued to fall on Tuesday. This was due to the weakness in other oils, but strong export data helped limit losses. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for December delivery fell 38 ringgit or 0.88% to 4,275 Ringgit ($993.26) per metric ton. David Ng said that the market was being impacted by the overnight decline in Chicago soyoil prices and the lower Dalian palm olein…
Palm production slips due to low volume and muted expectations
Malaysian palm futures continued to fall for a fourth consecutive session on Thursday, amid lower trading volume and concerns over low production expectations. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was down 20 Ringgit or 0.51% at $3,866 ringgit (US$892.84) per metric ton. "A rather thin volume today suggests a lack of activity in the sales sector." "The biggest concern is the low arrivals of fruit bunches…
Palm oil prices rise on China's antidumping probe and the weakening ringgit
The price of Malaysian palm oils futures rose on Tuesday. This was the fourth session in a row that they have gained. This is due to China starting an anti-dumping investigation into canola imported from Canada, and also a weaker ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 45 Ringgit or 1.14% to 3,978 Ringgit ($909.67). China announced…
Palm oil prices end lower due to profit-taking and losses in Dalian contracts
Malaysian palm futures ended Monday lower as investors booked profits and added to the decline. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Exchange fell 44 ringgit or 1.11% to 3,933 Ringgit ($903.10) per metric ton. A Kuala Lumpur-based broker said, "The benchmark is experiencing a correction due to profit taking following the recent rally. Dalian's palm oil contract…
Palm oil drops on Dalian losses and profit taking action
Malaysian palm futures declined on Monday due to profit-taking and a decline in the Dalian palm contract. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was down 38 Ringgit or 0.96% to 3,939 Ringgit ($909.49) per metric ton. A Kuala Lumpur based trader stated that "the benchmark is experiencing a correction due to profit-taking after recent rally and following Dalian palm oil decline".
Palm oil ends two-day losing streak on short-coverage
After a two-day losing streak traders filled short positions on the market. However, India, which is the largest buyer of vegetable oil in the world, imposed higher import taxes, which limited gains. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Market closed up 22 Ringgit (0.56%) to $3,942 Ringgit ($915.04) per metric ton. Lingam Supramaniam said that there is some short covering in the palm oil markets today.
Palm oil prices continue to fall due to a possible increase in import taxes from India and concerns about demand.
The price of Malaysian palm oils futures fell for the third day in a row on Thursday due to concerns about demand amid the prospect of increased import taxes from India, the largest buyer of vegetable oil. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for November delivery fell 11 ringgit or 0.28% to 3,909 Ringgit ($904.23) per metric ton. Lingam Supramaniam…
Palm oil prices fall as India's import tax worries counteract weak supply prospects
Malaysian palm futures closed lower on Wednesday, as fears over higher import taxes from India, the top buyer of vegetable oil in the world, outweighed the weaker outlook for supply from Indonesia, the top producer. The benchmark contract for palm oil for November delivery at the Bursa Derivatives exchange fell 3 ringgit or 0.08% to 3,920 ringgit (US$903.23) per metric tonne, for a second session in a row.
Palm oil prices rebound on Indonesian supply concerns and biodiesel hope
Malaysian palm futures rose on Wednesday. This was boosted by a more positive outlook for the supply in Indonesia, and optimism about the plan of the country's top producer to increase its biodiesel requirement. The benchmark palm-oil contract for November delivery at the Bursa Derivatives exchange rose 13 ringgit or 0.33% to 3,936 Ringgit ($906.49) per metric ton. This was the fifth rise in six sessions before the midday break.
Palm oil reaches 3-week high due to biodiesel plans in Indonesia and Malaysia's production woes
The price of Malaysian palm oils futures rose for the fourth time in a row on Monday. They reached their highest level in over three weeks due to Indonesia's plans to increase its biodiesel blend and worries about rainy weather affecting Malaysia's production. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose 52 ringgit or 1.34% to 3,919 Ringgit ($902.79) per metric ton.
Palm prices rise on strong demand and supply concerns; expected to gain weekly
The price of Malaysian palm oils futures rose for the third session in a row on Friday, reaching their highest level in almost three weeks. This was due to expectations that production would be weak in August and an improving demand. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Exchange rose 43 ringgit or 1.12% to 3,869 Ringgit ($884.95) per metric ton.
Palm prices rise on strong demand and supply concerns, resulting in a weekly gain
The price of Malaysian palm oils futures rose for the third session in a row on Friday, reaching their highest level in almost three weeks. This was due to expectations that production would be weak in August, and an improving demand. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for November delivery had gained 15 ringgit or 0.39% to 3,841 Ringgit ($877.34). The contract gained 4.35% for the week, the biggest weekly gain since the end of May.
Palm oil reaches a two-week high amid muted Indonesian supply outlook
The price of Malaysian palm oils futures reached a new two-week high Wednesday. This was boosted by the prospect of a weakening in supply from Indonesia, the world's biggest producer. However, softer data on exports capped gains. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Market closed up 39 Ringgit or 1.05% at $3,754 ringgit (US$858.06) per metric ton.
Palm oil prices rise on weaker Indonesian supply prospects
The price of Malaysian palm oils futures rose on Wednesday due to the prospect of lower supplies in Indonesia, the world's biggest producer, but lacklustre exports restricted gains. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for November delivery rose 17 ringgit or 0.46% to 3,732 Ringgit ($853.22) per metric ton. The palm oil price is uncompetitive against soft oils due to Indonesian production not meeting expectations.
Chicago soyoil and palm oil both fall on the back of weak export data
The price of Malaysian palm oils futures fell on Tuesday due to weak export data, and a weakness in the Chicago soyoil contracts. However, Dalian vegetable oil prices were stronger, which limited losses. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Exchange fell 6 ringgit or 0.16% to $3,715 ringgit (US$849.14) per metric ton. The export data caused crude palm oil futures to trade lower during the afternoon session.
Palm oil's weekly loss is due to a decline in exports, and competition from rival oils.
Malaysian palm futures reversed gains early on Friday, logging a fourth successive weekly loss as weak exports and softer oil contracts from rivals outweighed the supply pressures of top producer Indonesia. The benchmark palm-oil contract for delivery in November on the Bursa Derivatives Market closed 16 ringgit lower, or 0.43% at $3,680 Ringgit ($831.07) per metric ton. It fell 1.79% in the last week.
Palm oil to rise on slower Indonesian production
Malaysian palm futures increased on Friday due to concerns over slow growth in Indonesia, the top producer, but Malaysian exports were weak and capped gains. By midday, the benchmark palm oil contract on Bursa Derivatives exchange for November delivery was up 15 Ringgit or 0.41% at $3,711 ringgit (US$836.75) per metric ton. After a three-week decline, the stock has so far gained 0.19% for the week. Lingam Supramaniam is the director of Selangor brokerage Pelindung Bestari.
