World palm oil prices today, fell on May 19, as the United Nations tried to restore Ukraine's grain exports

RBD Palm Oil

Published May 20, 2022

Tridge summary

Palm oil contract for August delivery on the Bursa Malaysia exchange fell sharply by 104 ringgit, or 1.7%, to 6,030 ringgit ($1,369.52) a tonne.
At the mid-day break, this futures contract was at 6,089 ringgit ($1,383.55) per ton.
Indonesia's Trade Minister said that cooking oil prices are expected to stabilize after a program to distribute subsidized supplies to 10,000 locations across the country.
According to information from the United Nations, United Nations Director Antonio Guterres said that he is in talks with the European Union, Russia, Turkey, Ukraine and the United States to try to restore Ukraine's grain exports when The global food crisis is getting worse.
On the Dalian Stock Exchange, soybean oil prices rose 0.7% after a sharp 3.1% drop overnight. On the Chicago Mercantile Exchange, soybean and palm oil prices both fell 0.4 percent.
Palm oil prices are influenced by relevant oil prices when competing for their share in the global vegetable oil market.

Original content

Source: Vinanet

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