World vegetable oil and sugar market on September 14: Malaysian palm oil prices increased for the second consecutive session

Published 2023년 9월 14일

Tridge summary

Palm oil prices on the Bursa Malaysia exchange increased by 1.23% at the beginning of the trading session but later dropped due to increased production and slowed exports. European Union palm oil imports decreased compared to the previous year, while soybean and rapeseed imports increased. In the sugar market, raw sugar futures prices decreased, but sugar production in Brazil is expected to reach record highs.

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

Original content

Vegetable oil Palm oil contract for delivery in November 2023 on the Bursa Malaysia exchange at the beginning of this morning's trading session increased by 46 ringgit, equivalent to 1.23% to 3,772 ringgit (806.16 USD)/ton. At lunch break, this contract was at 3,757 ringgit (802.95 USD)/ton. Data from the Malaysian Palm Oil Board (MPOB) shows that Malaysia's palm oil inventory at the end of August 2023 reached 2.12 million tons, up 22.5% over the previous month, due to increased production and exports. slow down. According to commodity surveyor Intertek Testing Services, Malaysia's exports of palm oil products in the first 10 days of September 2023 decreased by 11.2% compared to the same period last month, to 350,823 tons (from 395,145 tons), while independent inspection firm AmSpec Agri Malaysia estimated a decline of 20.4%. European Union (EU) palm oil imports in 2023/24 as of September 8 reached 634,515 tons, down from 736,716 imports in the same period last year. EU ...

Source: Vinanet