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Palm oil punches through RM3,500 to highest in 8 years

Palm oil punches through RM3,500 to highest in 8 years
thestar.com.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestar.com.my Daily Mail and Mail on Sunday newspapers.

United States , Sathia Varqa , Amspec Agri , Southern Peninsular Palm Oil Millers Association , Intertek Testing Services , Palm Oil Analytics , ஒன்றுபட்டது மாநிலங்களில் , தெற்கு தீபகற்பம் பனை எண்ணெய் மில்லர்கள் சங்கம் , இண்தெற்டேக் சோதனை சேவைகள் , பனை எண்ணெய் பகுப்பாய்வு ,

Palm oil punches through RM3,500 to highest in eight years

Crude palm oil continues to show strong demand as CPO rises to RM3,500 per tonne.
NEW DELHI: Palm oil burst through RM3,500 a tonne to the strongest level in more than eight years on optimism that rising exports from Malaysia will deplete the country’s stockpiles and that stronger prices for rival soybean oil will increase the appeal of palm oil.
“It’s a rebound after the lackluster trade yesterday, ” said Sathia Varqa, owner of Palm Oil Analytics in Singapore.
“Prices regained their footing from a better export outlook for December and lower output. Higher prices for Dalian and Chicago soybean oil are also supportive.” ....

United States , Sathia Varqa , Amspec Agri , Southern Peninsular Palm Oil Millers Association , Intertek Testing Services , Palm Oil Analytics , ஒன்றுபட்டது மாநிலங்களில் , தெற்கு தீபகற்பம் பனை எண்ணெய் மில்லர்கள் சங்கம் , இண்தெற்டேக் சோதனை சேவைகள் , பனை எண்ணெய் பகுப்பாய்வு ,

Higher CPO prices seen as stock levels expected to fall further

CRUDE palm oil (CPO) prices have been rising this year to attain an eight-year high despite the Covid-19 pandemic, suggesting brighter prospects for the plantation sector.
The most active CPO futures contract closed at RM3,437 last Friday. It had climbed to RM3,489 on Nov 19 after falling to a year-low of RM1,946 in May. Since then, prices have risen higher.
Spot prices breached the RM3,500 benchmark on Nov 19, rebounding from the low of RM2,030.50 on May 14, 2020.
MIDF Research Analyst Khoo Zhen Ye says the current rally in CPO prices has been premised on lower supply, as palm oil inventory levels have been declining despite now being the higher production period. A decline in soybean production in South America and in sunflower oil in the Black Sea also contributed to higher CPO prices. ....

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CPO futures end higher on lower inventory

CPO futures end higher on lower inventory
theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.

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