
Malaysian crude palm oil prices were set to firm on Thursday as Chinese demand rose ahead of Lunar New Year and other vegetable oil prices increased. Malaysian CPO exports rose 6-9% in December 2017, and further export growth was expected in January 2018.
China is described as the second-largest CPO importer after India.
Chinese restocking ahead of the holiday adds demand for palm oil at a time of rising exports, supporting palm oil prices. Higher vegetable oil prices also tend to lift substitutes.
Na 133 eerdere opwaarts handel-gebeurtenissen bewoog Palmolie zich mediaan +0,7% over 5 sessies (64% hoger; middelste helft -0,8% tot +2,3%), en +1,7% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Rising December exports and expected Chinese pre-Lunar New Year buying, plus firmer other vegetable oils, supported demand and prices.