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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.
en.infosawit.comInfoSAWIT English6 de jan. de 2018Após 133 eventos altista de comércio passados, Óleo de palma subiu em mediana +0,7% em 5 sessões (64% de alta; metade central de -0,8% a +2,3%), e +1,7% em 20.
Variações do benchmark de cada commodity desde o último fechamento antes do evento. As leituras históricas agregam eventos passados do mesmo tipo; descrevem o que aconteceu, não o que vai acontecer. Não é recomendação de investimento.
Rising December exports and expected Chinese pre-Lunar New Year buying, plus firmer other vegetable oils, supported demand and prices.
