Malaysian prices— CPO Futures plunged by a sharp RM347 week-on-week average, settling at RM3280/ton (US$812) after Futures closed mixed during the week but was broadly on bearish sentiment. Weak Malaysia Jan export demand tumbling by a hefty 40% in the first 20 days versus the same time in Dec and a sharp fall in soybean oil weighed down on CPO Futures. Weak production in Jan slightly cushioned the decline. Cash prices tumbled tracking the weaker Futures, with local CPO down RM262 to RM3632/ton, the largest weekly drop in multi-years after trading between RM3700-3600. Cash RBD palm olein offers were below US$1000/ton for the first time in 3 weeks and eased by US$53.20 to US$947/ton from the week prior. Most traded delivery moved from Apr-May-Jun to Jul-Aug-Sept which averaged US$784.55/ton or US$36 lower than the average of the week before. Ringgit ended the week unchanged at 4.0417 to a Dollar.
Indonesian prices —
Indonesia export rises 15% in December on the robust rise in shipment to Malaysia. —
Palm discount to bean oil rises to 8 months high after palm price decline to 40 days low—
Malaysia January exports decline due to higher palm prices and compared to a high base in December—
Indonesia 2021 biodiesel production to rise sharply. 2020 usage & production to rise –
Event: Paris Grain Day 27th and 28th of January—
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