Malaysia: Palm oil reverse losses to close higher

게시됨 2024년 12월 13일

Tridge 요약

Malaysian palm oil futures saw a rebound and closed higher on Thursday, overcoming initial losses due to profit-taking and influence from falling soyoil prices in Chicago. The benchmark February delivery contract on the Bursa Malaysia Derivatives Exchange rose by 1.32% to 4,920 ringgit ($1,109.36) per metric ton. Despite a slight decline in India's palm oil imports in November by 0.4% to 841,993 metric tons, cargo surveyors like Intertek and AmSpec Agri Malaysia reported increases in Malaysian palm oil exports for early December. The market's direction was also influenced by stable crude oil prices, which make palm oil a more appealing feedstock for biodiesel.

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원본 콘텐츠

Malaysian palm oil futures reversed losses to close higher on Thursday after heavy morning profit-takingactivities weighed down the market. The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 64 ringgit, or 1.32%, to 4,920 ringgit ($1,109.36) a metric ton at the closing. “Futures prices fall with heavy morning selling activities. Overnight weakness in soyoil at the Chicago exchange also dragged the futures lower,” said a Kuala Lumpur-based trader. India’s palm oil imports in November fell 0.4% from October to 841,993 metric tons, the Solvent Extractors’ Association of India said on Thursday. Cargo surveyor Intertek Testing Services said on Tuesday that exports of Malaysian palm oil products for Dec. 1-10 rose 3.9%, while according to independent inspection company AmSpec Agri Malaysia it rose 1.1% Soyoil lost 0.33% at the Chicago Board of Trade BOcv1. Dalian’s most-active soyoil contract DBYcv1 fell 0.1%, while its palm ...

출처: UkrAgroConsult