The world market for vegetable oil on January 9, 2023
Published Jan 10, 2023
Tridge summary
Vegetable oil Palm oil contract for delivery in March 2023 on the Bursa Malaysia exchange at the beginning of the session fell 39 ringgit, or 0.96%, to 4,0133 ringgit ($918.31)/ton. At the midday break, this futures contract held steady at 4,001 ringgit ($914.93)/ton. The ringgit rose 0.66% against the dollar. A stronger ringgit makes palm oil less attractive to foreign currency holders. A Reuters survey showed December inventories fell to a four-month low as production and exports slowed, but remained at a fairly high 2.17 million tonnes (down 5.3% month on month). there).
Original content
Vegetable oil Palm oil contract for delivery in March 2023 on the Bursa Malaysia exchange at the beginning of the session fell 39 ringgit, or 0.96%, to 4,0133 ringgit ($918.31) per tonne. At the midday break, this futures contract held steady at 4,001 ringgit ($914.93)/ton. The ringgit rose 0.66% against the dollar. A stronger ringgit makes palm oil less attractive to foreign currency holders. A Reuters survey showed December inventories fell to a four-month low as production and exports slowed, but remained at a fairly high 2.17 million tonnes (down 5.3% month on month). there). Output fell for a second month in a row as tropical storms and major floods disrupted harvests and affected the supply chains of the world's second-largest producer. Output fell 3% from November to 1.63 million tonnes, the lowest level since July. Exports also fell 1% to 1.5 million tons, due to a decline in exports to the key market China. Demand from China has fallen in recent years due to strict ...
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