Malaysian prices—Futures added gains for the fifth week straight but at a much slower pace of RM11.20 to settle at weekly average of RM4980/ton or US$1201 compared to a rise of RM34.60 in the week before and RM130-320 rise in the prior 3 weeks to that. Higher crude oil prices, fluctuating soybean oil on CBOT and Dalian, India legislating to cap the volume of stocks held by warehouses and retailers, plus Indonesia raising its export tax characterised the volatile CPO futures trading last week. Futures posted the strongest gain in the week on Friday after benchmark Jan rose 1.97% to 7 days high to settle at RM5026. Cash CPO was up triple-digit for the fifth week in a row gaining RM120 to RM5352/ton after offers were at RM5300-5440/ton. Meanwhile, cash RBD palm olein offers averaged US$1358/ton on the spot month after gaining US$22. Most traded Jan-Feb-Mar delivery averaged US$1244.60/ton or up US$13.60 from a week ago.
Indonesian prices—Escalating Malaysian…
Malaysia exports improve over strong shipments to China- Malaysia palm exports in the first 25 days of October fell 12.12% to 1.208 million tons from the same period in Sept, coming within market expectation and reflecting a slight improvement from the 1-20 October export performance which declined by 14.65%, according to ITS. Amspec reported a smaller fall of 8.46%. Exports performance improved in the first 25 days led by a 4.43% increase in shipments to China poised to reach the highest in the year mainly accounting for purchases of RBD palm olein. Exports to India will likely snap to move lower in Nov, weighed down by higher global prices and narrowing spread to soft oils, particularly to sunflower oil.
Malaysia’s biodiesel exports fall sharply —Malaysia’s biodiesel export…
India limits edible oils stocks ahead of Diwali to ease prices—India will limit the stocks of edible oils…
RBD palm olein 70% higher in 2021 than last year- Spot month RBD palm olein offers are trending 67%…
Persistent widening of POGO to delay biodiesel upgrades—Malaysia and Indonesia are…
Malaysia palm olein exports to China displaced by higher Indonesian imports —Recovery in soybeans imports and…
Worsening Chinese port congestion could delay cargo deliveries, boost freight– Shipping ports in China are expected to…
Indonesia hikes November CPO export tax to US$200/ton– Indonesia raised the export tax on CPO to…
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