Palm oil futures for August fell 1.1% to RM4,240 a tonne, the lowest since May 11, after the market reopened from the Aidilfitri holiday. Traders cited weakening demand from India, the top buyer, where lockdowns to fight a Covid-19 outbreak have closed restaurants that use palm oil.
Some traders also took profits on long positions held before the holiday.
Lockdown-driven loss of restaurant demand in India weighs on palm oil, which is used mainly in food service, and shifts Indian buying toward sunflower and soybean oil. Lower near-term demand points to softer palm oil prices, although strong soyoil prices offer some support.
在过去 158 次看跌的贸易事件之后,棕榈油 在 5 个交易日内中位数变动 +0.0%(51% 上涨;中间一半区间为 -1.3% 至 +0.8%),20 个交易日内为 -1.4%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件;仅描述已发生的情况,不代表未来走势。不构成投资建议。