Loading…
Global palm oil prices rose moderately in late October, supported by firmer competing vegetable oils and strong Malaysian export figures. Malaysian exports for October were up about 6.6% to 8.9%, depending on the surveyor, and the Vesper EU forward index edged higher.
Rising competing oil prices and steady export demand support palm prices, though a stronger ringgit and weaker Brent crude partly offset the gains.
vespertool.comGehrman KosenkovOct 31, 2023Not 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.
Strong Malaysian October export data and firmer competing vegetable oils supported demand and sentiment heading into the Nov 1 rally.
