Malaysian palm oil futures is in a volatile position

Published 2023년 3월 20일

Tridge summary

The article discusses the surge in the June oil palm futures trade contract in Malaysia, reaching MYR 3,950 per tonne due to factors from the Dalian Exchange and Chicago Board of Trade. However, concerns over global demand, highlighted by a 30% drop in India's palm oil imports in February and increasing stocks from over imports, may prevent the contract from sustaining at current high levels. Despite these concerns, there is demand for Malaysian oil palm in select markets due to restrictions on Indonesian exports. The article also touches on various factors, including the potential impact of argentine crop losses on soyabean markets, pressure from Australian mustard crops on Canada and European markets, and the effect of abundant crops from Brazil. The prices are expected to remain steady within the range of 3700-4200.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Malaysian oil Palm futures trade contract for June surges today to MYR 3,950 Per Tonne, Inch up due to Dalian Exchange and Chicago Board of Trade. But it will hard to sustain on current level due to pressured by persistent concerns about sluggish global demand. As India’s palm oil imports in February dropped 30% from the previous month and an increase in stocks due to excessive imports during November-January. While Currently Malaysian oil palm has good pockets demand from small and mena countries due to restrictions from Indonesian exports, and malaysian market taking short term advantage. As he said before market seems to below 3800 RM which will create some rooms for buying to mid term,early crops loss from Argentina side slightly hope to stable the soyabean market. While Australian mustard crops may put pressure on Canada and European market. Also bumpers crops from Brazil made pressure for market when china ...

Source: UkrAgroConsult