The price of VEGOILS - Palm has fallen due to profit taking before the GAPKI conference
Malaysian palm futures declined on Tuesday, after four sessions of gains. Profit taking was a factor in the decline. This is due to profit-taking ahead of the Indonesian Palm Oil Association's (GAPKI), which will be held later this week. By midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery had fallen 41 ringgit or 0.84% to 4,850 Ringgit ($1,110.86). Profit-taking is evident today, just before the GAPKI Conference.
Palm oil ends the day higher than rival oils as market focuses on key data
Malaysian palm oil futures closed Monday after rival vegetable oils. The market is waiting for data from the Malaysian Palm Oil Board and export figures. On the closing, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 23 ringgit (0.47%) to 4,891 Ringgit ($1,119.22). The futures prices seem to follow the support for Dalian palm oil. Once the MPOB data and export figures are released, we will determine our position. For now, it will be following the leads of rival oils," said a Kuala Lumpur based trader.
Palm oil rangebound against rival oils as market eyes key data
Malaysian palm oil futures were sideways Monday as they followed rival vegetable oils while the market awaited data from the Malaysian Palm Oil Board and export figures. During the midday break, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange gained 1 ringgit or 0.02% to 4,869 Ringgit ($1,116.74). The futures prices seem to follow the support for Dalian palm oil. Once the MPOB data and export figures are released, we will determine our position.
VEGOILS - Palm closes 3% more, reaches highest level in nearly two and half years
Malaysian palm futures rose more than 3% Friday, the highest level in nearly two-and-a-half years, in response to higher soyoil, crude oil, and positive estimates for domestic exports. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 169 ringgit or 3.6% to 4,865 Ringgit ($1,112.00), its highest closing since June 30, 2020. This week the contract posted a gain of 7.25%, which is its second weekly increase in a row and its best performance since mid-June.
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. He said that the palm market was reacting to higher soyoil prices and crude oil.
Palm prices rise despite profit-taking and premium concerns
Malaysian palm futures rose for the second session in a row on Wednesday, despite profit taking pressure and fears that a wider premium over competing oils could dampen demand. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 58 ringgit or 1.25% to 4,695 Ringgit ($1,073.14) per metric ton. The contract has increased by 3.67% in two sessions. Thursday is a holiday and the market will be closed. Crude palm futures prices showed resilience in the previous session…
Palm prices jump over 2% due to low inventories and expectations of low output
After two sessions of declines, the price of Malaysian palm oils futures increased by more than 2%, boosted by expectations that palm production will be reduced and inventories in Malaysia will be low. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 108 Ringgit or 2.38% to 4,637 Ringgit ($1,060.86) per metric ton. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd. He said…
Palm gains due to low inventories and expectations of low output
The price of Malaysian palm oil futures increased on Tuesday due to expectations that palm production will be reduced and inventories will decrease. At midday, the benchmark palm oil contract on Bursa Derivatives Exchange for January delivery gained 20 ringgit or 0.44% to 4,549 Ringgit ($1,041.44) per metric ton. David Ng is a proprietary trader with Kuala Lumpur's Iceberg X Sdn. Bhd. He said that the palm oil futures are higher because of expectations for weaker output and lower stocks in the country.
Palm trades in a sideways manner; weak Ringgit and technical buying limits losses
Technical buying and the weaker ringgit helped limit its losses. At the close, the benchmark contract for palm oil delivery in January on Bursa Derivatives Exchange dropped 6 ringgit or 0.13% to 4,530 Ringgit ($1,039.47). The contract fell 1.59% in two consecutive sessions. A Kuala Lumpur trader reported that the crude palm oil futures recovered from its early losses by midday, due to technical purchases and a weaker Ringgit. The palm ringgit's trade currency…
Palm prices fall as India avoids premium prices but still has the best week for 16 months.
Malaysian palm futures ended lower on Friday, but still recorded its highest weekly gain since more than 16-months, as India pulled away from buying amid an increasing premium over soft oils. Fund positions are largely driving the current prices. At the close, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for January delivery fell 70 ringgit or 1.52% to 4,533 Ringgit per metric ton. The contract ended a winning streak of four sessions on that day, but posted a gain for the week of 6.53%.
Palm prices fall as India rejects premium prices and funds drive the market
Malaysian palm futures declined on Friday, but were still on track to have their best week in over 16 months. India pulled back from purchasing due to a growing premium for soft oils. Fund positions are driving the current prices. During the midday break, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange for delivery in January fell 16 ringgit or 0.35% to 4,587 Ringgit per metric ton. The contract is on track to achieve its largest weekly gain since June 2023.
Palm prices surge for a fourth day due to lower stocks and possible production drops
Malaysian palm oils jumped by more than 2% in value on Thursday. This was due to expectations that palm production would decline and the national stockpiles would be reduced. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Market gained 116 Ringgit or 2.59% to 4,602 Ringgit per metric ton. The contract gained 7.92% in total over four sessions. David Ng is a proprietary trader with Kuala Lumpur's trading firm Iceberg X Sdn Bhd.
Palmetto reaches highest level since over two years, due to low production and policy changes by top producers
The price of palm oil futures in Malaysia rose on Wednesday to its highest level in over two years, driven by the anticipated decline in production and the policy actions of two major producers. At the close of the Bursa Derivatives Market, the benchmark palm oil contract on January delivery gained 100 ringgit or 2.28% to 4,486 Ringgit ($1,031.98) per metric ton. The contract had earlier reached 4,514 Ringgit, its highest level since July 4, 2020.
Palm oil increases by more than 2% compared to rival oils
The price of palm oil in Malaysia rose by more than 2% Tuesday due to the strength of rival oils. The benchmark contract for palm oil delivery in January on the Bursa Derivatives Exchange rose 88 ringgit or 2.05% to 4,387 Ringgit ($1,014.34) per metric ton. The contract has increased by 3.08% in two consecutive sessions. A Kuala Lumpur-based dealer said that the gains in oilseeds seen overnight and morning trading supported palm prices. Dalian's palm oil contract, which is the most active contract, gained 2.6% while soyoil prices rose 1.02%.
GAPKI reports that Indonesian palm oil exports in August were up 15% year-on-year.
GAPKI, Indonesia's largest palm oil industry association, said Tuesday that the country's palm oils stock will remain around 2.5 million metric tonnes at end-2024. This is after production was affected last year by dry weather. GAPKI data show that palm oil exports from the world's biggest producer rose by 15% in August compared to a year ago, to 2,38 million metric tonnes. This lowered its end-August stock of palm oil to 2,45 million tons down from 2.51 millions tons a month before.
VEGOILS - Boost exports on the back of positive estimates and weak output
Malaysian palm oil futures ended up higher on Monday after two sessions of losses. Supported by higher export estimates, and expected seasonal palm production decreases, the prices rose. The benchmark contract for palm oil delivery in January on the Bursa Derivatives exchange gained 46 ringgit or 1.08% to 4,301 Ringgit ($1,000.23). The contract dropped 1.3% over the last two sessions. Palm prices are currently reacting to better export estimates…
Prabowo wants to increase Indonesia's energy independence through biofuels and oil and gas reforms
Officials have stated that Indonesia's new Government aims to revitalize oil and gas production. They plan to reduce regulations, reactivate inactive wells, and increase output in producing assets to reverse a decades-long drop in output.The new president, Prabowo Subianto, took his oath on Sunday. He also plans to continue the efforts of the previous administration to exploit the massive gas finds in South Andaman, and to increase the use of biofuels.Indonesia…
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. Palm prices are responding to better export estimates…
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 oil prices fall due to mix-trading in rival oils
Malaysian palm futures fell on Thursday, after a previous session that saw them rise. This was due to mixed trading of rival oils. The benchmark contract for palm oil delivery in January on Bursa Derivatives Exchange dropped 34 ringgit or 0.79% to 4,277 Ringgit ($993.03), a metric tonne, at the close. On Wednesday, the contract rose by 0.91%. A Kuala Lumpur based trader said that the closing market today did not reach its morning high due to mixed trading in rival oilseeds.
