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World: Palm oil and sugar prices rise from nearly a month low

Updated Mar 15, 2023
Vegetable oil Palm oil contract for delivery in May 2023 on the Bursa Malaysia exchange opened up 35 ringgit, or 0.88%, to 4,017 ringgit ($898.86) per ton. At the mid-day break, this futures contract closed at 4,020 ringgit ($899.33)/ton. Prices fluctuated near the highest level of more than 3 months in the previous session. Commodity surveyor Intertek Testing Services said that Malaysia's exports in the first half of March 2023 increased 55% year-on-year to 751,814 tonnes. Palm oil exports in the first 10 days of March increased by 45-52%. The Financial Times, citing sources familiar with the matter, said that the British Government is planning to abolish the import tax on Malaysian palm oil in return for the Malaysian Government's support for the UK to join the Trans-Thailand Progressive and Comprehensive Partnership Agreement. Binh Duong (CPTPP). The Financial Times highlighted that Malaysia, a member state of the CPTPP, has successfully negotiated with the UK on the ...
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