Loading…
Malaysian palm oil futures slipped about 1% on Tuesday in line with weaker rival edible oils, but the benchmark was still set for a 9.7% monthly gain. Rains raised concerns about output in the world's second-largest producer.
Traders also discussed unconfirmed rumours that Indonesia might lower its B35 biodiesel mandate, which the government denied.
Flood risk to Malaysian output supports palm prices over the month, while the possible B35 change is a downside risk that would free up Indonesian palm oil for the food market. Feed buyers should watch palm and soyoil for pass-through to meal and fat costs.
brecorder.comReutersFeb 28, 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.
