Palm oil prices rise amid dwindling inventories in Malaysia

게시됨 2024년 12월 25일

Tridge 요약

Palm oil futures on the Malaysian exchange have experienced a rise due to inventory drawdowns in Indonesia and India, coupled with speculative buying by traders. This comes after a recent sharp drop in prices. Data shows an increase in palm oil production and exports in Indonesia, but a decrease in ending stocks. In India, vegetable oil stocks at ports have seen an increase, indicating a rise in imports of cheap soybean oil. Meanwhile, food oil stocks in Chinese ports have decreased, particularly in palm oil.

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원본 콘텐츠

Palm oil futures on the Malaysian exchange rose on data showing inventory drawdowns in Indonesia and India and on speculative buying by traders after a sharp drop in prices over the previous two weeks. Crude palm oil prices crossed the lower support line of an uptrend and the base line of a double top price pattern, signaling a shift to bearish momentum, analysts said, signaling a shift to bearish momentum. March palm oil futures on the Bursa Malaysia exchange rose 13 ringgit/t to 4,555 ringgit/t or $1,015/t yesterday. According to GAPKI, in October, palm oil production in Indonesia increased by 9.69% compared to September from 4.415 to 4.843 million tons, exports increased by 19.33% from 2.131 to 2.543 million tons, domestic consumption increased by 4.73% from 1.989 to 2.083 million tons, while ending stocks decreased by 4.61% from 2.623 to 2.502 million tons. According to Saveraaintl estimates, in India, during December 1-15, vegetable oil stocks in ports increased by 9% to 1.05 ...

출처: Graintrade