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…
Palme ends the week with a loss of more than 4%
Malaysian palm oils futures continued to lose money on Friday as they tracked the weakness of rival vegetable oil at Chicago and Dalian and recorded a loss for the week. On the closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for February delivery fell 17 ringgit or 0.35% to 4,904 Ringgit ($1,102.77). The contract dropped 4.37% in the last week. The futures appear to be trading in a range, waiting for a new lead.
VEGOILS - Palm trades slow on the back of weaker oil rivals; set to a loss for the week
Malaysian palm oils futures continued to fall on Friday as they tracked the weakness of rival vegetable oil at Chicago and Dalian, and were expected to record a loss for the week. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery had fallen 35 ringgit or 0.71% to 4,886 Ringgit ($1,097.98). This week, the contract has dropped 4.72%. The futures appear to be trading in a range, waiting for a new lead.
Dalian palm and VEGOILS-Palm end lower in profit-booking
Malaysian palm futures continued to lose on Wednesday as traders booked profits after early gains that had been triggered by a fall in November stocks. The benchmark palm-oil contract for February delivery at Bursa Malaysia's Derivatives exchange lost 96 Ringgit or 1.94% to $4,855 Ringgit ($1,095.94), a metric tonne, at the close. Malaysian palm oil stocks fell for the second consecutive month, dropping 2.6% from November to 1,84 million tons.
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.
Palm snaps a five-day rally as soyoil weakens
Malaysian palm futures dropped on Monday, ending a streak of five consecutive sessions in which they had gained. They were dragged lower by a decline in the prices of soyoil in Dalian and Chicago, and lower November exports. The benchmark palm-oil contract for February delivery at the Bursa Derivatives Exchange in Malaysia lost 62 Ringgit or 1.24% to close at 4,958 Ringgit ($1,112.41) per metric ton. The contract gained 6.9% in November.
Palm snaps five-day rally as soyoil weakens
Malaysian palm futures dropped on Monday, ending a streak of five consecutive sessions in which they had gained. They were dragged lower by a decline in the prices of soyoil in Dalian and Chicago, and lowered exports for November. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for February delivery fell 30 ringgit (0.6%), to 4,990 Ringgit ($1,119.39), a metric tonne. The contract gained 6.9% in November. This was its fourth consecutive monthly gain.
Palm falls for the third consecutive day due to weaker competitors and selling pressure
Malaysian palm futures fell for the third session in a row on Thursday. This was due to the weakness of prices in rival vegetable oils listed in Dalian and pressure from sellers in crude palm (CPO). By midday, the benchmark contract for palm oil on Bursa Malaysia's Derivatives exchange was down by 82 ringgit (1.64%) to 4,905 Ringgit ($1,093.40). Paramalingam Supramaniam of Selangor…
Palm oil closes at its highest level since mid-June 2022
Malaysian palm futures closed on Monday after new buying interest emerged and short coverings were covered. The benchmark palm-oil contract for January delivery at the Bursa Derivatives exchange gained 94 Ringgit or 1.84%, to 5,195 Ringgit ($1,178.81), the highest price since mid-June 2022. A Kuala Lumpur-based broker said that the price started to rally after the futures reached 5,100 ringgit.
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.
