Login ID:
Password:
Partner Login
Contact Us : 7066511911

BMD CPO close: Palm oil hits with supply worries; floods hits Malaysia, Indonesia

21 Jan 2021 8:16 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange rose 62 RM, to 3,283 RM/MT in today’s trade.


Malaysian palm oil futures rose more than 2% on Thursday, paring losses from the previous session on supply concerns heightened by flooding in the top two producers of the commodity, and tracking gains in rival soyoil.


Output in parts of Malaysia and Indonesia has been disrupted as heavy floods and high rainfall delay harvest and crop evacuation. Its is widely anticipated that output will fall by 10-12% for January 21 in Malaysia.


Exports of Malaysian palm oil products for Jan. 1-20 plummeted between 41% and 43% from the corresponding December period, as biggest buyer India curbed purchases, cargo surveyors said on Wednesday.


BMD CPO 3M futures are likely to stabilise towards 3200/3300 RM/MT in coming sessions.


MCX CPO 1M futures to trade towards 910/930 Rs/10 kg.


(Commodities Control Bureau)


N       
  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
ICE Cotton Settles Weak on Month-End Square Off, Weak...
Spot Cotton Rates Tanked Across All Major Indian Cotton...
Maharashtra Cotton Prices Drop Rs 400/Candy amid Weak D...
Nationwide Daily Cotton Arrivals Rise 3.8% to 94,500 Ba...
Lower Rajasthan Cotton Prices Dipped Rs 300/Candy Lower...
more
Top 5 News
ICE Cotton Settles Weak on Month-End Square Off, Weak...
Brazil 2020-21 Soybean Crop Seen at 129.98 Mn T AgRes...
ICE Raw Sugar Settles Lower on March Expiry; Weak Crude...
Sugar Hedging by Brazilian Mills Way Ahead of Average
Spot Cotton Rates Tanked Across All Major Indian Cotton...
Top 5 Special Reports
Pulses Special: Government Procurement Key to Price Ral...
Weekly: NY Cotton Extends Upward Rally, Finishes Above...
Weekly: ICE Raw Sugar Marks Sweetest Weekly Rally Buoye...
Weekly: Most Pulses Moved Higher Over the Week, Chana ...
Weekly: Cotton #2 Replicates Stellar Performance from ...
Copyright © CC Commodity Info Services LLP. All rights reserved.