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Palm oil futures in Malaysia rose 6.4% in one week on lower production forecasts and firmer exports. A delayed sunflower harvest in the Black Sea region has tightened sunflower oil supply, pushing buyers toward cheaper palm oil.
Ukrainian sunflower oil prices held firm at about $1,260-1,300 per tonne FOB.
Tight sunflower oil supply lifts vegetable oil prices and pushes buyers toward palm and soybean oil, which supports vegetable oil prices across the complex.
graintrade.com.uaSep 27, 2021Not 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.
Same-day 6.4% weekly surge in Malaysian palm oil on lower production forecasts and firmer exports, plus tight sunflower oil supply, pushed buyers across vegetable oils and plausibly lifted soybean oil via substitution and spillover.
Palm futures jumped 6.4% in a week on lower production forecasts, firm exports and tight sunflower oil supply from a delayed Black Sea harvest, which pushed buyers toward palm and set up the later rally.
