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The benchmark crude palm oil contract for March 2025 delivery fell 1.33% to 4,389 ringgit (about US$980.56) per metric ton by midday on Thursday, January 2. Prices had risen as much as 1.8% early on, supported by gains in Dalian soyoil, before selling emerged.
Indonesia set its January crude palm oil reference price at US$1,059.54 per metric ton, which is used to calculate export duties.
Routine price moves in palm oil track competing vegetable oils, and the Indonesian reference price feeds into export duty levels that affect export competitiveness. Without new supply news, the price drop is mainly a short-term pullback.
palmoilmagazine.comPalmoilmagazineJan 3, 2025Not 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.
