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Crude palm oil futures on Bursa Malaysia closed higher on January 4, reaching their highest level since February 2011, with the March contract at 3,724 ringgit a tonne. Floods in Johor and Pahang, which together supply about 30% of Malaysian output, were expected to hit January and February production.
Strength on the Chicago Board of Trade also supported prices.
Flood-related output losses in a key producing region tighten near-term palm supply, pushing prices higher and raising feed fat costs.
malaymail.com4 gen 2021Dopo 181 eventi meteo rialzista passati, Olio di palma si è mosso in mediana di +0,5% in 5 sedute (56% in rialzo; metà centrale da -0,9% a +1,9%), e di +0,3% in 20.
Variazioni del benchmark di ciascuna materia prima rispetto all'ultima chiusura prima dell'evento. Le letture storiche raggruppano eventi passati dello stesso tipo; descrivono ciò che è accaduto, non ciò che accadrà. Non è consulenza di investimento.
Directly reports the Jan 4 rally to a decade high, with floods in Johor and Pahang (about 30% of output) threatening Jan-Feb supply, plus CBOT strength.
Jan 4 rally to the highest since 2011 was supported by floods in Johor and Pahang (about 30% of output) threatening January-February production, plus CBOT strength.
