World vegetable oil and sugar market on April 28: Palm oil price fell for the sixth consecutive session

Published 2023년 4월 28일

Tridge summary

The article reports a decrease in the July delivery price of palm oil on the Bursa Malaysia exchange by 0.06%, totaling 3,453 ringgit ($774.91) per ton, marking a sixth consecutive session of decline to the lowest level since October 4. With an anticipated decrease of 8.1% in palm oil price for the entire month of April, Indonesia plans to reduce the mandatory domestic sales for producers to 300,000 tonnes per month in May, thereby increasing exports. Meanwhile, on the global stage, soybean and white sugar prices present a mixed scenario, with soybean oil prices experiencing a decline, and white sugar prices surging to an 11.5-year high due to anticipated low production in India, Thailand, China, and Brazil. The article also highlights the sugar production figures from Brazil's south-central region and the operational status of factories, showcasing variations from expectations and comparing the current year's performance with the previous.

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

Original content

Vegetable oil Palm oil contract for July delivery on the Bursa Malaysia exchange at the beginning of the session fell slightly by 2 ringgit, or 0.06%, to 3,453 ringgit ($774.91) per ton. The contract fell for a sixth straight session to its lowest level since October 4 and is on track for a second straight month of declines. For the whole month of April, palm oil price will decrease by 8.1%. According to Indonesia's Ministry of Commerce, the country will lower the required domestic sales for palm oil producers to 300,000 tonnes per month starting in May, allowing exports to be boosted. On the Dalian Stock Exchange, soybean oil prices fell 1.2% and palm oil prices fell 1.8%. On the Chicago Mercantile Exchange, soybean oil prices rose 0.5%. Palm oil prices are influenced by relevant oil prices when competing for share in the global vegetable oil market. Road The price of white sugar for August 2023 on the London floor increased by 25 USD, or 3.6%, to 720.1 USD/ton, after ...

Source: Vinanet