Palm oil buyers switch to cheaper rival oils, hampering price recovery
By Rajendra Jadhav MUMBAI (Reuters) - The rebound in palm oil prices is likely to be capped by abundant supplies of rival soyoil and sunflower oil, ...
Source: saltwire.com
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Palm Oil Buyers Switch to Cheaper Rival Oils
The rebound in palm oil prices is likely to be capped by abundant supplies of rival soy oil and sunflower oil.
Source: en.tempo.co
Palm oil buyers switch to cheaper rival oils, hampering price recovery
The rebound in palm oil prices is likely to be capped by abundant supplies of rival soyoil and sunflower oil, "soft" oils that are available at discounts to tropical palm oil for the first time in more than a year. Benchmark Malaysian palm oil futures have risen nearly 5% in 2024 after losing 11% last year. Soft oils production is rising while palm oil production is falling, driving divergent price trends, said Vipin Gupta, chief executive officer of Dubai-based trader Glentech Group.
Source: yahoo.com
Recriminations fly as Indonesia resumes palm oil exports
Long lines of trucks trying to unload palm fruit formed outside Indonesian processing mills this week, illustrating the growing cost of a palm oil export ban by the world's biggest producer.
Source: thestar.com.my
Indonesia: Ban on palm oil exports unlikely to last more than a month
Indonesia produces around 4 million tonnes of palm oil every month and consumes around 1.5 million tonnes.
Source: businesstoday.in