Login ID:
Password:
Partner Login
Contact Us : 7066511911

BMD Palm Edges Higher On Easing Output Gains Outlook

6 Dec 2018 4:55 pm
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

NEW DELHI (Commoditiescontrol) - Malaysian palm oil futures staged modest recovery in the second session of trade on Thursday amid technical buying/short-covering and on expectations that production gains will taper off early next year. 

A weaker Ringgit also supported prices.

The February benchmark crude palm oil contract on the Bursa Malaysia Derivatives Exchange (BMD), was up Ringgit 9 or 0.5 percent or at Ringgit 2,004 (USD 481.74) per tonne by the close after moving in the range of Ringgit 2,014 and Ringgit 1,979, its lowest since November 28.

There is ongoing concern over high palm stockpiles but that is mostly factored in already.

Meanwhile, CIMB Research has pegged Malaysia's November-end palm oil inventory at record 3.06 million tonnes, up 12 percent month-on-month. The previous record stockpile was 2.91 million tonnes in Nov 2015.

In India, the crude palm oil for delivery in December at the Multi Commodity Exchange (MCX) was down Rs 5 or 1.01 percent at Rs 488.30 per 10 kg, after moving in the range of Rs 496.20 and Rs 488.10, with an open interest of 5,345 lots (16: 45 hrs IST).

(By Commoditiescontrol 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
EUROPEAN VEGETABLE OIL PRICES 1700 GMT - FEB 22
Argentina,Brazil And US Soy Meal FOB Rates On February ...
Argentina And Brazil Soy Oil FOB Rates of Seller And Bu...
Sunoil: Sunoil: Black Sea Ends Week $5/mt Higher on Str...
CBOT Soybean Slips On Uncertainty Over Export Demand
more
Top 5 News
Burma Urad Extend Fall At Close In Mumbai
Burma Tur Settles Weak In Mumbai
Indonesia Asks India To Cut Duty On Palm Oil In Exchang...
Urad Quotes Flat At Chennai
Burma Urad Extend Losses In Kolkata
Top 5 Special Reports
Technical-Chickpea (Chana)- Indore- Kabuli 42-44 CountE...
Technical:Mustard Cake-Movement In Volatility Band
Weekly: Major Raw Pulses Weak On Dull Demand In Dals, L...
Technical: Mustard Oil Kaachi Gani- Expect Lower Supp...
Technical: Mustard Seed Jaipur- Expect Lower Range To ...
Copyright © CC Commodity Info Services LLP. All rights reserved.