Malaysia: Palm oil adds nearly 3% as market estimates Indonesia's export ban

게시됨 2022년 4월 26일

Tridge 요약

Malaysian palm oil futures experienced a recovery on Tuesday following a sell-off in the previous session, driven by investor expectations around the impact of Indonesia's ban on refined palm olein exports. The ban, aimed at addressing a potential local shortage of cooking oil derivatives, has sparked concerns about its duration and broader economic implications. Despite the initial drop, there is speculation that the ban may not last over a month due to limited storage capacity for excess oil and pressure from buyers to restart supplies. Meanwhile, Bangladesh is adjusting import taxes on other oils to offset the effects of the ban, and India, the world's largest palm oil importer, anticipates its imports to exceed 600,000 tons in May, with most shipments expected to arrive before the ban's implementation.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

Malaysian palm oil futures rose on Tuesday, recovering from a sell-off in the previous session as investors assess the impact of Indonesia's ban on refined palm olein exports, oilworld.ru reported citing Reuters. A palm oil contract for July delivery on the Bursa Malaysian Derivatives Exchange rose MYR182, or 2.92%, to MYR6,411 ($1,472.61) a tonne. The contract fell 2% on Monday after Indonesia said its export ban, due to take effect Thursday, does not apply to crude palm oil. But the world's largest producer is ready to extend the export ban, which currently only applies to refined palm olein, if there is a local shortage of derivatives used in cooking oil, according to a formal meeting with processing companies. “Given Indonesia's dependence on palm oil exports, a prolonged ban could seriously hurt Indonesia's economy. As such, we doubt the export halt will last too long,” brokerage TA Securities said in a statement. Indonesia's ban is unlikely to last more than a month as ...

출처: Oilworld