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Malaysian palm oil futures rose 0.5% to RM2,469 on Friday, reaching a seven-week high and ending their winning streaks. The move came despite pressure from US soybean oil and India's raised import tax.
Malaysian palm oil exports were mixed in February, with ITS data showing a 5% rise for February 1-25 and SGS data showing a 11% monthly drop.
Higher Indian import duties reduce import demand for palm oil, while soyoil weakness in the US caps prices. Buyers of palm-based feed ingredients should expect mixed direction without a clear supply shock.
theborneopost.comeditoronMar 3, 2018Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
