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Palm oil prices rose for a tenth straight day, supported by a 1.7% to 5.6% rise in Malaysian exports in November. Chicago soyoil fell 1.7% as market pessimism grew over Chinese COVID protests and a slowing global economy.
The Malaysian government kept the crude palm oil export duty at 8% for December.
Stronger Malaysian export flows tighten palm oil supply and support prices, while weak Chinese demand, the largest vegetable oil importer, weighs on soyoil. Shifts in demand between these two oils change the relative price of feed-grade fats.
ukragroconsult.comDec 1, 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.
