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Malaysian benchmark crude palm oil futures opened about 1 percent higher on January 2, 2019. The opening followed India's announcement of lower import duties on palm oil from Southeast Asia.
March futures traded at 2,133 ringgit a tonne.
The opening move reflects India's tariff cut boosting expected palm oil import demand. The price gain is modest, so the effect on the market is limited.
thestar.com.myThe Star Online1 ene 2019Tras 133 eventos alcista de comercio pasados, Aceite de palma se movió una mediana de +0,7 % en 5 sesiones (64% al alza; mitad central entre -0,8 % y +2,3 %), y +1,7 % en 20.
Variaciones de la referencia de cada materia prima desde el último cierre antes del evento. Las lecturas históricas agrupan eventos pasados del mismo tipo; describen lo ocurrido, no lo que ocurrirá. No es asesoramiento de inversión.
Futures opened about 1% higher on the India tax cut news, showing immediate market reaction that started the multi-day gain.
Documents futures opening higher on the India tax cut news, confirming the sentiment and price reaction tied to the duty change.
