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Barnama
28-07-2025
- Business
- Barnama
CPO Futures End Lower On Weaker Export Performance In July
Sunvin Group head of commodity research Anilkumar Bagani said Malaysian palm oil exports for the July 1-25 period were estimated at 1,029,585 tonnes by Intertek Testing Services, down 9.23 per cent from the June 1-25 estimate. KUALA LUMPUR, July 28 (Bernama) -- The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, weighed by Malaysian palm oil's weaker export performance in July. "Meanwhile, AmSpec Agri Malaysia reported exports at 896,484 tonnes, marking a 15.22 per cent decline over the same period," he told Bernama. Palm oil trader David Ng said the CPO market closed lower on Monday due to concerns over expectations of rising output and weaker demand in the coming weeks. He said the market sentiment was also dragged down by a drop in soybean oil prices on the Chicago Board of Trade (CBOT).
New Straits Times
17-07-2025
- Business
- New Straits Times
Palm oil drops on profit-taking after reports of weaker export data
JAKARTA: Malaysian palm oil futures slipped on Thursday, erasing gains from the previous session, due to profit-taking after reports of weaker export data for the July 1-15 period. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange lost RM14, or 0.33 per cent, to RM4,210 (US$991.29) a metric ton, as of 0232 GMT. According to independent inspection company AmSpec Agri Malaysia, exports of Malaysian palm oil products for the July 1-15 period fell 5.3 per cent, from June 1-15, while according to cargo surveyor Intertek Testing Services, it fell 6.2 per cent. Soyoil prices on the Chicago Board of Trade were slightly down 0.05 per cent. Dalian's most-active soyoil contract edged 0.12 per cent higher, while its palm oil contract slipped 0.11 per cent. Palm oil tracks price movements of rival edible oils, as it competes for a share of the global vegetable oils market. Oil prices rose in early trade on Thursday, reversing the previous session's losses, buoyed by stronger-than-expected economic data from the world's top oil consumers and signs of easing trade tensions. Stronger crude oil futures make palm a more attractive option for biodiesel feedstock. The ringgit, palm's currency of trade, weakened 0.17 per cent against the dollar, making the commodity cheaper for holders of foreign currencies. Palm oil may retest resistance at RM4,231 per metric ton, with a good chance of breaking above it and rising into the RM4,254 to RM4,292 range, Reuters technical analyst Wang Tao said. Asian stocks dithered ahead of earnings from heavyweight technology companies and as market anxiety lingered over the uncertain tenure of Federal Reserve chief Jerome Powell.
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
14-05-2025
- Business
- Business Recorder
Malaysian palm oil surges on stronger soyoils
KUALA LUMPUR: Malaysian palm oil futures extended gains to the third straight session on Tuesday after a long holiday weekend, supported by stronger rival soyoils and a weak ringgit, but rising stocks limited gains. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 81 ringgit, or 2.07%, to 3,893 ringgit ($901.16) a metric ton at closing. 'Soyoil's premium over palm oil is increasing, exceeding $100 per ton for forward month shipments. This should drive higher demand during peak production months,' said a Mumbai-based trader, adding that rising soyoil prices will support palm oil. The contract rose as much as 3.22% earlier in the session, its biggest daily gain since March 7, as the market in Malaysia reopened after the Vesak holiday on Monday. However, palm futures eased after Malaysian Palm Oil Board data showed palm oil inventories jumped to their highest level in six months in April, as production surged to a decade-high for the month while local consumption dropped. Palm oil exports by the world's second-largest producer likely fell 9% in the May 1-10 period, according to cargo surveyor Intertek Testing Services. Meanwhile, independent inspection company AmSpec Agri Malaysia estimated exports during the same period were up 0.6%. Dalian's most-active soyoil contract was up 0.08%, while its palm oil contract slid 0.03%. Soyoil prices on the Chicago Board of Trade (CBOT) were up 0.02%. Palm oil tracks the prices of rival edible oils as it competes for a share of the global vegetable oils market. The ringgit, palm's currency of trade, weakened 0.61% against the US dollar, making the commodity cheaper for buyers holding foreign currencies.
Business Recorder
13-05-2025
- Business
- Business Recorder
Palm surges on stronger soyoils, weak ringgit
KUALA LUMPUR: Malaysian palm oil futures extended gains to the third straight session on Tuesday after a long holiday weekend, supported by stronger rival soyoils and a weak ringgit, but rising stocks limited gains. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 81 ringgit, or 2.07%, to 3,893 ringgit ($901.16) a metric ton at closing. 'Soyoil's premium over palm oil is increasing, exceeding $100 per ton for forward month shipments. This should drive higher demand during peak production months,' said a Mumbai-based trader, adding that rising soyoil prices will support palm oil. The contract rose as much as 3.22% earlier in the session, its biggest daily gain since March 7, as the market in Malaysia reopened after the Vesak holiday on Monday. However, palm futures eased after Malaysian Palm Oil Board data showed palm oil inventories jumped to their highest level in six months in April, as production surged to a decade-high for the month while local consumption dropped. Malaysian palm oil gains Palm oil exports by the world's second-largest producer likely fell 9% in the May 1-10 period, according to cargo surveyor Intertek Testing Services. Meanwhile, independent inspection company AmSpec Agri Malaysia estimated exports during the same period were up 0.6%. Dalian's most-active soyoil contract was up 0.08%, while its palm oil contract slid 0.03%. Soyoil prices on the Chicago Board of Trade (CBOT) were up 0.02%. Palm oil tracks the prices of rival edible oils as it competes for a share of the global vegetable oils market. The ringgit, palm's currency of trade, weakened 0.61% against the U.S. dollar, making the commodity cheaper for buyers holding foreign currencies.
