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Malaysian palm oil

Palm jumps over 3pc as US soyoil rallies on Argentina strikes
Markets

Palm jumps over 3pc as US soyoil rallies on Argentina strikes

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed 3.6% higher, or 8 ringgit, at 3,536 ringgit ($870.72).
  • Palm tracked higher prices of soyoil on the CBOT, up 2.2%, as Argentine soymeal exports stalled due to labour strikes.
Published 23 Dec, 2020 06:27pm
Palm rebounds on likely higher China imports, biodiesel hopes
Markets

Palm rebounds on likely higher China imports, biodiesel hopes

  • The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 10 ringgit, or 0.3%, to 3,416 ringgit ($841.59), after closing 1.1% lower on Monday.
  • Supporting prices was a potential rise in palm oil imports by China next year to 6.4 million tonnes from 6.2 million tonnes in 2020.
Published 22 Dec, 2020 06:07pm
Palm oil may retest resistance at 3,474 ringgit
Markets

Palm oil may retest resistance at 3,474 ringgit

  • This move suggests that the bulls have not given up breaking 3,411 ringgit. Indeed, this resistance looks vulnerable under the third attacks by bulls. It may be broken on either Friday or next Monday.
Published 11 Dec, 2020 09:04am
Palm oil closes higher on stronger global equities
Markets

Palm oil closes higher on stronger global equities

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed up 15 ringgit, or 0.62%, at 2,427 ringgit ($569.32) a tonne, after rising as much as 1.45%.
  • Malaysian palm oil inventories at end-June fell 6.3% from a month earlier, while production jumped 14.2%,
Published 13 Jul, 2020 06:50pm
Palm oil reverses early gains as crude oil falls
Markets

Palm oil reverses early gains as crude oil falls

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed down 0.13% to 2,359 ringgit ($550.53) a tonne.
  • Oil fell below $43 a barrel as a resurgence of coronavirus cases raised concerns that fuel demand growth could stall.
Published 03 Jul, 2020 05:21pm
Palm up 1.5pc as crude oil extend gains
Markets

Palm up 1.5pc as crude oil extend gains

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed 1.5% higher at 2,361 ringgit ($551.25).
  • Crude oil prices rose on Thursday as a sharp drop in oil stockpiles, making palm a more attractive option for biodiesel feedstock.
Published 02 Jul, 2020 05:45pm