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Malaysian Palm Oil Futures Fell On Wednesday

Wednesday's decline in Malaysian palm oil futures was caused by a downturn in sentiment towards rival vegetable oils in the Dalian and Chicago futures markets.

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Malaysian Palm Oil Futures Fell On Wednesday

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  1. Malaysian Palm Oil Futures Fell On Wednesday Wednesday's decline in Malaysian palm oil futures was caused by a downturn in sentiment towards rival vegetable oils in the Dalian and Chicago futures markets. Tradologie.com, designed in India, for the world, is a user friendly SaaS based global trade hub and your streamlined solution for procurement and sales of B2B commodities such as rice. On the platform, connect with verified global bulk edible-oil buyers or bulk edible-oil sellers, bypass middlemen for higher profits, and secure the best bulk prices for your business, effortlessly. Simplify your edible-oil sales or procurement with Tradologie.com. Edible Oil Futures On the Bursa Malaysia Derivatives Exchange, the benchmark palm oil contract for April delivery dropped 44 ringgit, or 1.47%, to 3,818 ringgit ($809.76) at the close. According to a trader based in Kuala Lumpur, the contract is experiencing a technical correction following several days of gains, and the weakness in competing oilseeds is impacting Malaysian palm oil futures. While the palm oil contract lost 0.44%, the most active Dalian soybean oil contract dropped 1.04%. The Chicago Board of Trade's soybean oil prices decreased by 1.31%. Reasons Changes in the price of related oils have an impact on palm oil because these oils compete for share in the global vegetable oil market. The ringgit, trading currency for palm, fell 0.53% against the dollar, making the commodity more affordable for buyers with foreign currency.

  2. According to AmSpec Agri Malaysia, an independent inspection company, exports of Malaysian palm oil products are expected to decrease 2.6% to 604,474 tonnes from a month earlier for the period of January 1–15. Surveyor Intertek Testing Services reported that exports increased 6.5% to 629,918 tonnes between January 1 and 15. In an effort to keep local prices under control, India, the world's largest importer of cooking oil, will extend its lower tariff on edible oil imports for an additional year, until March 2025. If you are an edible-oil importer wishing to import edible-oil in bulk or an edible-oil exporter willing to export bulk edible-oil, then Tradologie.com is the right platform for you. Tradologie.com facilitates bulk agro-commodity sales and procurement across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities in bulk at negotiable rates. The transaction oriented platform has 700,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 100 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.

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