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. A Kuala Lumpur trader stated earlier that "the futures react to the rival oil's rise"…
Malaysian palm oil surpasses rival edible oils
Malaysian palm futures rose on Thursday, erasing the losses of last session, and tracking stronger competing edible oils. Data from the Malaysian Palm Oil Board showed an increase in inventories for March. By midday, the benchmark June palm-oil contract traded on the Bursa Derivatives Exchange in Malaysia gained 65 ringgit or 1.57% to 4,213 Ringgit ($941.87) per metric ton. A Kuala Lumpur trader stated that "the futures react to the rival oil's rise"…
Palm oil ends lower than rival oils as tariff wars cause anxiety
Malaysian palm futures ended lower on Wednesday. They erased last session's gains. This was due to the decline of rival edible oils traded in Dalian and Chicago, and the growing economic anxiety over tariff wars. The benchmark June palm-oil contract at Bursa Malaysia's Derivatives exchange fell 42 ringgit or 1% to 4,146 Ringgit ($922.56) per metric ton. "Price movement is currently driven by the market sentiment and broader concerns…
Palm oil trades lower than rival oils amid fears of tariff wars
Malaysian palm futures continued to lose on Wednesday. They erased last session's gains. This was due to the competition from edible oils traded in Dalian and Chicago, and the growing economic anxiety over tariff wars. By midday, the benchmark June palm-oil contract traded on Bursa Malaysia's Derivatives exchange fell 100 ringgit or 2.39% to 4,088 Ringgit ($909.66). "Price movement is currently driven by the market sentiment and broader concerns…
Palm oil is gaining to follow Chicago soyoils and crude oil higher
Malaysian palm oils futures climbed slightly higher on Tuesday after three sessions of losses. They mirrored the movement in crude oil, Chicago soyoil and other commodities, but concerns over high Malaysian stocks of palm oil capped gains. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives Exchange for June delivery gained 2 ringgit (0.05%) to 4,187 Ringgit ($932.72) per metric ton.
Palm oil is gaining to follow Chicago soyoils and crude oil higher
The price of Malaysian palm oils futures rose on Tuesday. This ended a three-session losing streak, boosted by the strength of crude oil, Chicago soyoil and a weaker Ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose by 1.15%, to 4,233 Ringgit ($944.87) per metric ton. Fears of an expanding global trade war led to a partial recovery of the 7.5% loss that the contract had suffered over the previous three sessions.
Palm extends its losses as soyoil and crude oil prices fall
Malaysian palm futures dropped to a 10-week-low on Monday. Pressured by lower soyoil prices and crude oil, fears of a trade war arose from China's retaliatory duties on U.S. products. The benchmark contract for palm oil delivery in June on Bursa Derivatives exchange fell 146 ringgit or 3.37% to close at $4,182 Ringgit ($934.32) per metric ton. Earlier in the session, the contract reached a low of 4163 ringgit. This was its lowest level since 24 January.
VEGOILS-Palm falls tracking weaker soyoil, crude oil prices
Malaysian palm futures declined on Monday for the third consecutive session. They were weighed down on lower soyoil prices and crude oil, while China's retaliatory duties on U.S. products raised fears of an international trade war. At midday, the benchmark palm oil contract on Bursa Derivatives exchange for June delivery fell 57 ringgit or 1.32% to 4,271 Ringgit ($957.62). Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group…
Palm oil prices fall as Trump tariffs cause profit booking
Malaysian palm futures fell on Thursday, ending a four session rally. Profit-taking was a factor in the decline, following President Donald Trump’s tariffs against trade partners. At the close, the benchmark palm oil contract on the Bursa Derivatives Exchange for June delivery fell 27 ringgit (0.6%), to 4,490 Ringgit ($1,011.26) per metric ton. Paramalingam Supramaniam of Selangor's brokerage Pelindung…
Palm prices fall as Trump tariffs lead to profit booking
Malaysian palm futures fell on Thursday after a four session rally. Profit-taking was blamed for the decline, following President Donald Trump’s tariffs against trade partners. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for June delivery fell 56 ringgit or 1.24% to 4,461 Ringgit ($1,000.22). Paramalingam Supramaniam of Selangor's brokerage Pelindung Bestari said that the crude palm oil futures fell as Trump's new tariffs caused profit-taking.
Palm oil climbs as Chicago soyoil and crude oil prices firm up
The market for Malaysian palm oils futures rose on Wednesday, marking the fourth session in a row. This was due to gains in Chicago soyoil prices and energy. The benchmark contract for palm oil delivery in June on the Bursa Derivatives exchange gained 99 ringgit or 2.24% to 4,518 Ringgit ($1,015.05) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays…
Palm oil rises as Chicago soyoil and crude oil prices strengthen
Malaysian palm futures were up for the fourth consecutive session on Wednesday, supported by gains in Chicago soyoil as well as energy. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for June delivery gained 119 Ringgit or 2.69% to 4,538 Ringgit ($1,020.46) per metric ton. Anilkumar bagani, head of commodity research at Mumbai-based Sunvin Group, said that the price of crude palm oil was higher following the Malaysian holidays…
The Malaysian palm is poised to gain a weekly profit on the strength of physical demand
The price of Malaysian palm oils rose for the third session in a row on Friday. This was due to strong demand before Eid al-Fitr, an Islamic holiday. Also, rival vegetable oil prices were strong. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for June delivery had gained 80 ringgit or 1.86% to $4392 ringgit (US$991.20) per metric ton. The contract is expected to gain 0.39% this week, the first weekly gain for three weeks.
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.
Malaysian palm oil drops, rivals follow suit
The price of Malaysian palm oils futures fell for a third consecutive session on Tuesday. This was in line with the declines in rival vegetable oil markets such as Dalian and Chicago, while investors waited to see export data. By midday, the benchmark palm oil contract on the Bursa Derivatives Exchange for June delivery had fallen 29 ringgit or 0.67% to 4,276 Ringgit ($963.71) per metric ton. According to Amspec Agri Malaysia…
Palm oil falls due to Dalian Oil's weakness; soft ringgit caps losses
The Dalian Commodity Exchange saw a decline in the price of vegetable oil, which pushed down the palm oil futures for the second session running. However, a weaker currency helped to limit the losses. By midday, the benchmark contract for palm oil delivery in June on Bursa Derivatives Exchange had fallen 35 ringgit (0.8%) to 4,340 Ringgit ($979.02). The contract follows weak external markets, but the ringgit's weakness cushions some losses," said Kuala Lumpur based trader.
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.
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…
