Latest news with #AmSpecAgriMalaysia
Barnama
26-05-2025
- Business
- Barnama
CPO Futures End Slightly Higher On Firmer Crude Oil Prices
Palm oil trader David Ng said CPO prices are recovering from previous losses, driven by better-than-expected export figures that have boosted market sentiment. KUALA LUMPUR, May 26 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally higher on Monday, supported by stronger crude oil prices. 'We see support at RM3,800 per tonne and resistance at RM3,950 per tonne,' he told Bernama. According to independent inspection company AmSpec Agri Malaysia, exports of Malaysian palm oil products for May 1-25 rose 7.3 per cent to 991,702 tonnes from 923,893 tonnes shipped during April 1-25. At the close, the spot month June 2025 contract rose by RM11 to RM3,835 per tonne, July 2025 increased by RM7 to RM3,843 per tonne, and August 2025 went up RM6 to RM3,833 per tonne.
New Straits Times
16-05-2025
- Business
- New Straits Times
Palm set for first weekly gain in three as strong export data supports
JAKARTA: Malaysian palm oil futures rose on Friday and were set to post their first weekly gain in three weeks as strong export data supported the contract despite weakness in vegetable oils in the Chicago and Dalian commodity exchanges. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange gained 6 ringgit or 0.16 per cent to RM3,862 (US$905.30) a metric ton by the midday break. The contract has gained 1.26 per cent for the week. "Good export figure for May 1-15 period lent some support," a Kuala Lumpur-based trader said. Exports of Malaysian palm oil products for May 1 - 15 estimated rose between 6.6 per cent and 14.2 per cent, according to independent inspection company AmSpec Agri Malaysia and cargo surveyor Intertek Testing Services. Dalian's most-active soyoil contract was down 0.84 per cent, while its palm oil contract for June delivery dropped 0.91 per cent. Soyoil prices on the Chicago Board of Trade (CBOT) tumbled 1.7 per cent. Palm oil tracks prices of rival edible oils as it competes for a share of the global vegetable oils market. Oil prices edged up on Friday following a sharp drop in the previous session, heading for a weekly gain of more than 1 per cent as US-China trade optimism outweighed the prospects of Iranian supply returning to the market. Palm oil may slide further into a range of RM3,763 to RM3,804 per metric ton, as it has broken support at RM3,870.
Business Recorder
15-05-2025
- Business
- Business Recorder
Malaysian palm oil futures weaker
JAKARTA: Malaysian palm oil futures dropped on Thursday, snapping four consecutive session of gains, as weakness in Chicago soyoil weighed, while strong export data limited losses. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange lost 61 ringgit, or 1.55%, to 3,862 ringgit ($902.34)a metric ton at closing. Exports of Malaysian palm oil products for May 1 - 15 rose 14.2% to 514,713 tonnes from 450,657 tonnes shipped during April 1 - 15, independent inspection company AmSpec Agri Malaysia said on Thursday. 'The positive export figures do provides support but Chicago soyoil dropped 270 points, thus our CPO futures is weighed down by it,' a Kuala Lumpur-based trader said. Soyoil prices on the Chicago Board of Trade (CBOT) plunged 5.72%, their steepest daily drop in nearly two years as falling crude oil prices and mounting uncertainty over the US biofuel policy pressured the market. Dalian's most active soyoil contract dropped 0.80%, while its palm oil contract for June delivery lost 0.74%. Palm oil tracks the prices of rival edible oils as it competes for a share of the global vegetable oils market. Starting May 17, Indonesia will raise its crude palm oil (CPO) export levy to 10% of its CPO reference price from the current 7.5% to finance the country's increased biodiesel blending mandate. India's vegetable oil imports plunged to their lowest in more than four years in April, led by declines in palm oil imports, dragging inventories to their lowest in nearly five years, a leading industry body said. The Rosario grains exchange raised its estimate for Argentina's 2024-25 soybean production to 48.5 million metric tons from 45.5 million tons earlier.
