Palm oil falls due to weaker soyoil and a firmer Ringgit
Malaysian palm futures declined on Monday for a sixth consecutive session as a result of a weaker ringgit, a decline in crude oil, and the weakness of soyoil. Concerns about U.S. trade tariffs also contributed to the drop. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for July delivery fell 46 ringgit or 1.16% to 3,929 Ringgit ($895.80), a metric tonne.
Palm records its lowest weekly loss in 28 weeks, a third-weekly loss.
Malaysian palm oils futures reversed gains earlier, following rival oils in Dalian, and recorded a third consecutive weekly loss on Saturday, their lowest drop in 28 weeks. The benchmark contract for palm oil delivery in July on the Bursa Derivatives exchange lost 36 ringgit (0.9%), to $3,975 ringgit (US$901.36) per metric ton, at the close. Futures fell 5.63% in value this week. Dalian's palm oil contract fell 0.12%, while the most active soyoil contract dropped 0.05%.
Palm trades higher but still on course for a third weekly loss
Malaysian palm oils futures continued to rise on Friday. They ended a losing streak of four sessions, thanks to the strength of rival vegetable oil, but they remain on track for a third consecutive weekly decline. By midday, the benchmark contract for palm oil delivery in July on the Bursa Derivatives exchange gained 4 ringgit or 0.1% to 4,015 Ringgit ($911.46) per metric ton. Futures prices have fallen by 4.68% this week.
Palm production increases, causing a fourth consecutive session of declines
Malaysian palm futures dropped for the fourth session in a row on Thursday, closing at their lowest level since October 1. This was due to expectations that production would increase. However, strong competition oils prevented further losses. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was down 3 ringgit or 0.07% to 4,012 Ringgit ($910.78) per metric ton.
Palm oil prices close at their lowest level since October, as weak competitors weigh
Malaysian palm oils futures continued to lose money on Wednesday due to the lacklustre performance of Dalian vegetable oil and expectations for improved production. The benchmark July palm oil contract on Bursa Derivatives Exchange fell 36 ringgit or 0.89% to 4,007 Ringgit ($912.98) per metric ton, its lowest price since October 1. A Kuala Lumpur trader stated that palm futures are tracking the spillover weakness of the external markets.
Palm trades lower than Chicago soyoil amid concerns about economic headwind
Malaysian palm futures continued to fall on Monday as they tracked the weakness of rival soyoil on the Chicago market. Meanwhile, escalating U.S. China trade tensions despite a suspension of tariffs for other countries also weighed down sentiment. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia had fallen 45 ringgit or 1.07% to 4,167 Ringgit ($943.19) per metric ton. "Following a 90-day suspension of tariffs by the U.S.
Palm trades lower and is set to suffer a second weekly loss
The Malaysian palm futures contract reversed its morning gains as it sought new directions. It is now heading towards a second weekly loss. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia had fallen 27 ringgit or 0.64% to 4,173 Ringgit ($941.14) per metric ton. This week, the contract has fallen by 3.58%. A Kuala Lumpur trader stated…
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.
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.
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.
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…
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%.
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…
Palm prices end higher due to Indonesia's increased levy and weak Malaysian production
Malaysian palm oils closed higher on Wednesday, after Indonesia reaffirmed its intention to increase the palm oil export tax. Malaysia's lower production figures have however limited gains. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 22 ringgit or 0.5% to 4,388 Ringgit ($990.07). The futures market resumed on a bullish note, mainly because Indonesia reaffirmed an increase in export taxes for palm oil.
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.
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.
Palm oil gains for the first time in three months
The price of Malaysian palm oils futures increased on Friday, posting their first monthly gain for three months. This was boosted by the strength in competing oils and expectations that India will increase its purchases. The benchmark May palm oil contract on the Bursa Derivatives Exchange rose 42 ringgit or 0.93% to 4,553 Ringgit ($1,020.85) per metric ton. "India... had a significantly…
Palm oil drops on weaker rival oils and a bearish outlook
The price of Malaysian palm futures fell on Thursday after two sessions of gains. This was due to the weakness in other oils and a negative outlook from analysts. By midday, the benchmark contract for palm oil delivery in May on the Bursa Derivatives Market had fallen 96 ringgit or 2.21% to 4,509 Ringgit ($1,015.31) per metric ton. Paramalingam Supramaniam is the director of Selangor-based brokerage Pelindung Bestari.
Palm oil drops on weaker rival oils and a bearish outlook
The price of Malaysian palm oils futures plummeted on Thursday. This ended two sessions of gains as analysts and the weakness in other oils weighed it down. By midday, the benchmark May palm oil contract on Bursa Malaysia's Derivatives exchange had fallen 96 ringgit or 2.08% to 4,515 Ringgit ($1,016.43) per metric ton. Paramalingam Supramaniam is the director of Selangor-based brokerage Pelindung Bestari.
Palm oil prices rise by more than 2 percent after Malaysian data on palm oil
Malaysian palm futures rose on Monday for the fourth consecutive session, after data released by the industry regulator revealed a drop in stocks. Expectations of improved demand also added to the bullish market sentiment. The benchmark contract for palm oil delivery in April on the Bursa Derivatives Exchange rose 91 ringgit or 2.02% to 4,595 Ringgit ($1,028.65). The Malaysian Palm…
