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%.
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.
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.
VEGOILS - Palm oil ends lower due to weaker competitor oils. Traders await positive signals
Malaysian palm futures declined on Tuesday as traders looked for bullish signals to support prices. The benchmark May palm oil contract on Bursa Malaysia's Derivatives exchange fell 34 ringgit (0.75%) to close at 1,014.63 ringgit per metric ton. A Kuala Lumpur based trader stated that the market was under pressure due to the weakness of rival oilseeds, as there were no significant bullish reports.
Export data and concerns about higher Indian duties are cited as reasons for the decline in palm oil.
Malaysian palm futures fell on Monday as the market was pressured by lower estimates of palm oil exports in the first two week's of February, and India raising import taxes for vegetable oils. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for May delivery fell 14 ringgit (0.31%) to 4,485 Ringgit ($1,013.10) per metric ton. The contract increased by 0.83% during the previous session.
Palm prices rise on lower production and log a fourth weekly gain
Malaysian palm futures closed higher on Friday, logging a fourth consecutive weekly gain. Lower stocks supported the market in spite of demand concerns and uncertainty surrounding Indonesia's mandate for biodiesel. At the close, the benchmark April palm oil contract on Bursa Derivatives Exchange rose 41 ringgit (0.9%), to 4,595 Ringgit ($1,036.78) per metric ton. The contract increased by 2.02% in the past week.
Palm production drops, resulting in a fourth-week gain.
Malaysian palm futures increased on Friday as lower inventories supported the market, despite concerns about demand and uncertainty surrounding Indonesia's mandate for biodiesel. At midday, the benchmark April palm oil contract on Bursa Derivatives Exchange rose 35 ringgit or 0.77% to 4,589 Ringgit ($1,033.56) per metric ton. This week, it has increased by 1.62%. Paramalingam Supramaniam of Selangor…
Palm oil falls on Dalian crude oil, weakening it
Malaysian palm futures dropped on Thursday, ending a five session rally. Pressured by lower Dalian oil and lower crude oil prices, sparked by the talks to end Ukraine-Russia's war, they were pushed down by weaker Dalian oil. At midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 63 ringgit or 1.36% to 4,558 Ringgit ($1,023.35) per metric ton.
US Report: Palm oil prices rise on the strength of Dalian palm olein
The Malaysian palm futures closed higher on Wednesday for the fifth consecutive session, boosted by a positive U.S. report about world agricultural demand and supply estimates as well as a stronger Dalian palm oil. At the close of the day, the benchmark contract for palm oil delivery in April on the Bursa Derivatives exchange rose 31 ringgit or 0.67% to 4,624 Ringgit ($1,034.45) per metric ton. The Malaysian market was closed for a holiday on Tuesday.
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 Oil Board's…
VEGOILS - Palm flat ahead of MPOB and exports; demand concerns weigh
Malaysian palm futures were in a narrow range on Monday, ahead of important data on the country’s stocks. Weak demand from key markets was offset by gains due to flood fears and Indonesia’s potential increase in export taxes. At the midday break, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for April delivery fell 7 ringgit or 0.16% to 4,497 Ringgit ($1,006.72) per metric ton.
Interra claims that oil contract was signed with Myanmar before the junta took power
Interra Resources, a Singapore-listed oil explorer, said Thursday that a production sharing contract between its subsidiary in Myanmar and a government-controlled entity was extended several years before 2021. The statement was made in response to an inquiry by the Singapore Exchange, a week after Justice for Myanmar claimed in a report Interra "helped provide the junta with over 2 million barrels" of oil and had "fueled its ongoing war crime".
Palmetto prices end higher amid fears of reduced production and weak demand
The price of Malaysian palm oils futures increased for the second session in a row on Thursday. This was due to expectations of a decrease in production. However, gains were limited by a lack demand from major importing countries. The benchmark contract for palm oil delivery in April on the Bursa Derivatives Market gained 71 Ringgit or 1.64% to close at $4,405 Ringgit ($993.91) per metric ton. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari.
Palm prices rise on concerns about lower production and demand
The price of Malaysian palm oils futures rose for the second session in a row on Thursday. This was due to expectations of a decrease in production. However, a lack demand from major importing countries restricted gains. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for April delivery gained 31 ringgit or 0.72% to 4,365 Ringgit ($986.44) per metric ton. Paramalingam Supramaniam is the director of Selangor brokerage Pelindung Bestari.
Palm oil prices rise on Dalian oil demand and stronger Dalian crudes
Malaysian palm oils futures closed higher on Wednesday. They were boosted by the stronger Dalian edible oil, and traders were hopeful about a possible resumption in palm oil demand out of India. At the close, the benchmark April palm oil contract on Bursa Derivatives Exchange rose 24 ringgit or 0.56% to 4,332 Ringgit per metric ton. The contract fell 1.35% Tuesday. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group…
Palm oil prices rise on Dalian oil demand and stronger Dalian crudes
The price of Malaysian palm oils futures recovered from early losses, with the help of gains in Dalian edible oil, and traders are optimistic about a possible resumption in demand for palm oil from India. At midday, the benchmark April palm oil contract on Bursa Derivatives Exchange rose 20 ringgit (0.46%) to 4,328 Ringgit ($977.64). The contract fell 1.35% on Monday. Anilkumar bagani, head of commodity research at Mumbai's Sunvin Group…
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.
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.
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.
Palm oil prices rise on expectations of reduced production in Malaysia
The price of Malaysian palm oils futures rose on Monday, as lower production expectations and lower export estimates offset the weakness in Chicago soyoil contracts. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange was up 0.38% to 4,232 Ringgit ($968.42). Anilkumar bagani, the commodity research director at Mumbai-based Sunvin Group, says that futures prices were affected by the sharply lower Chicago soyoil after U.S.
