Malaysian RBD palm oil prices to rise by 23% in the first half of 2025

게시됨 2024년 9월 27일

Tridge 요약

The article highlights the potential impact of various factors on the global agricultural oil market. It is expected that the prices of RBD palm olein could drive demand for crude palm oil and support Malaysian palm oil futures due to anticipated production drops in Indonesia and potential output reductions in Russia and Ukraine. Indonesia's plan to increase the use of palm oil in biofuels could result in a decrease in exports, contributing to higher prices. Additionally, China's palm oil imports are projected to exceed 1 million tonnes from August to October 2024, driven by increased profitability. Malaysia has also signed palm oil trade agreements with China valued at over RM230 million, with the total contract value likely to grow in the future.

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원본 콘텐츠

Rising RBD palm olein prices could boost demand for crude palm oil and support Malaysian palm oil futures FCPOc3. Palm oil output in top producer Indonesia is likely to fall by as much as 1.5 million tonnes in 2024 amid rising domestic biofuel demand, Thomas Mielke said at the Globoil India conference. Weak output will reduce exports and support prices. Last month, Indonesia's energy ministry said it plans to raise the share of palm oil in biofuels to 40% by January 2025 from the current 35% to reduce fuel imports and fossil fuel emissions. Argentine soybean oil prices could average $1,130/tonne on a free-on-board basis in the January-June 2025 period, up 27% year-on-year, according to Mielke. Sunflower oil prices in the Black Sea region could average $1,220 per tonne, up nearly 51% year-on-year, due to potential output reductions in the top two producers, Russia and Ukraine. According to the China National Grain and Oils Information Center, palm oil imports into the country from ...

출처: Vinanet