AIRLINK 170.57 Decreased By ▼ -2.58 (-1.49%)
BOP 11.18 Increased By ▲ 0.53 (4.98%)
CNERGY 8.41 Decreased By ▼ -0.11 (-1.29%)
CPHL 99.73 Increased By ▲ 2.27 (2.33%)
FCCL 46.60 Decreased By ▼ -0.65 (-1.38%)
FFL 15.15 Decreased By ▼ -0.27 (-1.75%)
FLYNG 27.55 Decreased By ▼ -0.58 (-2.06%)
HUBC 137.78 Decreased By ▼ -1.13 (-0.81%)
HUMNL 12.92 Increased By ▲ 0.11 (0.86%)
KEL 4.54 No Change ▼ 0.00 (0%)
KOSM 5.36 Decreased By ▼ -0.19 (-3.42%)
MLCF 62.40 Increased By ▲ 0.14 (0.22%)
OGDC 212.16 Decreased By ▼ -2.59 (-1.21%)
PACE 5.42 Decreased By ▼ -0.13 (-2.34%)
PAEL 47.18 Increased By ▲ 2.32 (5.17%)
PIAHCLA 18.48 Decreased By ▼ -0.22 (-1.18%)
PIBTL 10.36 Decreased By ▼ -0.38 (-3.54%)
POWER 12.33 Increased By ▲ 0.07 (0.57%)
PPL 169.60 Decreased By ▼ -4.27 (-2.46%)
PRL 35.85 Decreased By ▼ -0.37 (-1.02%)
PTC 23.09 Decreased By ▼ -0.47 (-1.99%)
SEARL 96.26 Increased By ▲ 0.95 (1%)
SSGC 39.52 Increased By ▲ 0.39 (1%)
SYM 13.84 Decreased By ▼ -0.18 (-1.28%)
TELE 7.15 Decreased By ▼ -0.08 (-1.11%)
TPLP 10.03 Decreased By ▼ -0.26 (-2.53%)
TRG 63.48 Decreased By ▼ -1.20 (-1.86%)
WAVESAPP 9.99 Decreased By ▼ -0.05 (-0.5%)
WTL 1.31 Decreased By ▼ -0.02 (-1.5%)
YOUW 3.66 Decreased By ▼ -0.04 (-1.08%)
BR100 12,305 Decreased By -186.6 (-1.49%)
BR30 37,415 Decreased By -278.7 (-0.74%)
KSE100 114,853 Decreased By -1335.9 (-1.15%)
KSE30 35,217 Decreased By -533.1 (-1.49%)

KUALA LUMPUR: Malaysian palm oil futures settled lower on Wednesday, weighed down by export demand concerns and uncertainty over Indonesia’s biodiesel mandate.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange lost 9 ringgit, or 0.21%, to 4,356 ringgit ($968.00) a metric ton at the close. The contract rose 0.62% in the previous session. Crude palm oil prices slipped as the market continues to grapple with export concerns, said a Kuala Lumpur-based trader. Malaysia’s palm oil export data for Jan. 1-10 is expected on Friday, following December data that showed exports declined between 2.5% and 7.8%.

“The market is also awaiting further news regarding Indonesia’s B40 biodiesel mandate,” the trader added. Indonesia’s Energy and Mineral Resources Minister signed a decree last Friday allocating 15.6 million kilolitres of biodiesel for 2025 distribution, while giving the industry until the end of next month to adapt. Dalian’s most-active soyoil contract fell 0.37%, while its palm oil contract added 0.49%. Soyoil prices on the Chicago Board of Trade (CBOT) gained 1.38%. Palm oil tracks price movements of rival edible oils as it competes for a share of the global vegetable oils market.

Oil prices rose as supplies from Russia and OPEC members tightened while US crude oil stocks fell last week, market sources said, citing American Petroleum Institute figures. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock.

The ringgit, palm’s currency of trade, weakened 0.33% against the US dollar, making the commodity cheaper for buyers holding foreign currencies. The European Union soybean imports in the 2024-25 season that began in July reached 6.96 million metric tons by Jan. 5, up 12% from 6.22 million tons a year earlier, data published by the European Commission showed.

Comments

Comments are closed.