World's vegetable oil and sugar market on February 7, 2023

Vegetable oil Palm oil contract for delivery in April 2023 on the Bursa Malaysia exchange at the beginning of the session increased 82 ringgit, or 2.13%, to 3,933 ringgit ($916.36) per ton. At the mid-day break, this futures contract closed at 3,936 ringgit ($916.41)/ton. In a statement late on Monday (February 6), the Coordinating Ministry of Maritime Affairs and Investment said that Indonesia - the world's top palm oil producer - would review its export quota ratio. palm oil in the context of high domestic cooking oil prices. According to Minister Luhut Pandjaitan, as exporters have accumulated large quotas for outgoing shipments since the end of last year, Indonesia will suspend some existing palm oil export licenses until the end of April 2023. A Reuters survey showed that Malaysia's palm oil inventories at the end of January 2023 are likely to fall 0.66% from December 2022 to a five-month low of 2.18 million tonnes. Paramalingam Supramaniam, director of Selangor-based ...