Loading…
Malaysian palm oil futures closed lower on Feb 10 on profit-taking and weak Malaysian exports in the first 10 days of February, with exports down 5-6.5% per SGS and Intertek though AmSpec reported a 0.5% rise. The April contract fell 1.13% to 5,531 ringgit per tonne, though a drop in January end stocks limited losses.
Palm is the cheapest vegetable oil and competes with soyoil and sunflower oil, so weaker export data points to softer vegetable oil prices, though Indonesia's export permit rules keep the supply outlook tight.
reuters.comBernadette ChristinaFeb 10, 2022Not 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.
