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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 de jan. de 2021Após 181 eventos altista de clima passados, Óleo de palma subiu em mediana +0,5% em 5 sessões (56% de alta; metade central de -0,9% a +1,9%), e +0,3% 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.
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.
