Login ID:
Password:
Partner Login
Contact Us : 7066511911

Palm Oil Continues Its Sharp Journey Downwards

28 Sep 2020 10:22 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

A 2.4% rebound in Malaysian palm oil futures on Friday halted the four-day losing streak on the global vegoil complex, with futures recovering some losses and cash prices stabilising, supported by stronger September exports. After falling 10.5% in the last four days, the December palm oil benchmark contract on the Bursa Malaysia closed higher at MYR2,822/mt ($676.90/mt), and posted an 8.4% weekly loss – its largest weekly loss since late February.

Malaysia Export Shipment

Cargo Surveyor

1-25 Sept

1-25 Aug

% Change

ITS

1.30

1.21

6.94%

AMSpec

1.31

1.22

8.14%

The palm oil market climbed after cargo surveyors said Malaysian exports during the September 1-25 period increased between 6.9% and 8.14% on the month, reflecting higher global demand for the tropical oil.

We are expecting BMD CPO Dec 20 contract to stay towards 2800/2880 MYR in coming session. For MCX CPO Sept 20, price may trade towards 770/790 INR levels in coming few sessions.


       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Spot Turmeric Ends Firm-to-Flat amid Reduced Arrivals, ...
Jeera: Upside Rally Halts in Unjha, Rajkot amid Steady ...
Teja Bounces Back by Rs 7/Kg in Guntur, Other Red Chill...
India Spices Export Offer Price - 20 OCTOBER 2020
Spot Coriander Drops Rs 50/Quintal amid Lack of Buyers,...
more
Top 5 News
Moong Traded Mixed in Major Mkts
Maharashtra Sugar Mill Prices – 20 OCTOBER 2020
Gujarat Sugar Mill Prices – 20 OCTOBER 2020
Guar Gum, Seed Turns To Upside When Futures Jump On Inv...
Weak Availability Lifts Tur, Urad in MP
Top 5 Special Reports
USD/INR (Oct ‘20) – Consolidating Near Short-term Suppo...
Weekly: Major Pulses Plunge This Week On Govt Intervent...
Veg Oil
USD/CNY & USD/IDR
USD/ARS & USD/BRL—
Copyright © CC Commodity Info Services LLP. All rights reserved.