Palm Oil Stockpiles in Malaysia Seen Surging to Five-Month High
By Anuradha Raghu
(Bloomberg) -- Palm oil inventories in Malaysia probably expanded to the largest in five months at the end of July as production in the world’s second-biggest grower rebounded, countering the impact of stronger exports.
Stockpiles rose about 4.1% from a month earlier to 1.79 million tons, according to the median of 13 estimates in a Bloomberg survey of analysts, traders and plantation executives.
That would be the third straight monthly increase.
Crude palm oil production jumped about 7.6% to a seven month high of 1.56 million tons, after dropping 4.6% in June, the survey showed. Exports climbed about 9.4% to 1.28 million tons, the biggest since March.
“The growth in stocks will be the most important thing to watch from here onwards,” said Nagaraj Meda, managing director of Hyderabad-based TransGraph Consulting.
Benchmark futures in Kuala Lumpur rallied above 4,000 ringgit a ton last month on worries that the worsening conflict in the Black Sea region will hurt exports of sunflower oil and channel demand to palm, but they have since retreated as attention shifts to rising supplies.
Prices have fallen 3.6% so far this week, even as the tropical oil rose 1% to 3,862 ringgit by the midday break on Friday.
Charts suggest that palm could drop toward 3,725 ringgit in the near term, according to Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental.
By: via Malaysian Palm Oil Council Russia
пятница, 4 августа 2023 г.
Malaysian Palm Oil Council Russia's Post
Palm Oil Resumes Declines as Other Edible Oil Prices Weaken
(Bloomberg) -- Palm oil resumed its decline, tracking weakness in other vegetable oil markets, although prices remain supported by the export outlook and a widening discount against substitute oils.
Futures in Kuala Lumpur fell 1% to 3,876 ringgit a ton at the midday break after a choppy session. They dropped for the seventh time in eight days as traders assessed rising supplies in producers Indonesia and Malaysia, the two biggest producers. Palm oil has been dragged lower by weakness in Chinese prices and a lack of positive news, according to Abdul Hameed, director of sales at Manzoor Trading in Lahore. Traders are also avoiding taking risky positions ahead of official supply data for July from the Malaysian Palm Oil Board, as well as US crop updates due next week, he said.
Still, optimism that robust export demand will continue this month is underpinning prices. Palm’s discount to soybean oil, its closest substitute, widened to around $480 a ton on Thursday, from about $265 in mid-May, making it more appealing for price-sensitive buyers.
“Market sentiment isn’t too bearish as high imports from India and China in the last two months indicate that palm oil demand is rising,” Hameed said. The wide spread between palm and soyoil is creating room for further purchases, while uncertainty over how the war in Ukraine will affect edible oil supplies is also supporting prices, he said.
By: via Malaysian Palm Oil Council Russia
(Bloomberg) -- Palm oil resumed its decline, tracking weakness in other vegetable oil markets, although prices remain supported by the export outlook and a widening discount against substitute oils.
Futures in Kuala Lumpur fell 1% to 3,876 ringgit a ton at the midday break after a choppy session. They dropped for the seventh time in eight days as traders assessed rising supplies in producers Indonesia and Malaysia, the two biggest producers. Palm oil has been dragged lower by weakness in Chinese prices and a lack of positive news, according to Abdul Hameed, director of sales at Manzoor Trading in Lahore. Traders are also avoiding taking risky positions ahead of official supply data for July from the Malaysian Palm Oil Board, as well as US crop updates due next week, he said.
Still, optimism that robust export demand will continue this month is underpinning prices. Palm’s discount to soybean oil, its closest substitute, widened to around $480 a ton on Thursday, from about $265 in mid-May, making it more appealing for price-sensitive buyers.
“Market sentiment isn’t too bearish as high imports from India and China in the last two months indicate that palm oil demand is rising,” Hameed said. The wide spread between palm and soyoil is creating room for further purchases, while uncertainty over how the war in Ukraine will affect edible oil supplies is also supporting prices, he said.
By: via Malaysian Palm Oil Council Russia
четверг, 3 августа 2023 г.
среда, 2 августа 2023 г.
Malaysian Palm Oil Council Russia's Post
Market Forum #2 : 2023 Analyzing Palm Oil Prospect and Potential
https://mpoc.org.my/market-forum-2-2023-analyzing-palm-oil-prospect-and-potential/
MARKET FORUM is a seminar series organized by MPOC to share key market updates received through our network of regional offices and in-house market intelligence. The Market Forum is targeted to Malaysian palm oil stakeholders in various parts of Malaysia. The Market Forum serious attract prominent speakers from the global oils & fats industry, financial […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/market-forum-2-2023-analyzing-palm-oil-prospect-and-potential/
MARKET FORUM is a seminar series organized by MPOC to share key market updates received through our network of regional offices and in-house market intelligence. The Market Forum is targeted to Malaysian palm oil stakeholders in various parts of Malaysia. The Market Forum serious attract prominent speakers from the global oils & fats industry, financial […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Oppurtunities For Palm Oil In Turkey’s Horeca Sector
https://mpoc.org.my/oppurtunities-for-palm-oil-in-turkeys-horeca-sector/
Background The Horeca sector in Turkey thriving and has been growing rapidly in recent years. Turkey is one of the world’s most popular tourist destinations and is known for its rich history, diverse culture, and exquisite cuisine. The country attracts millions of visitors every year and, and Horeca sector across the country benefit from this […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/oppurtunities-for-palm-oil-in-turkeys-horeca-sector/
Background The Horeca sector in Turkey thriving and has been growing rapidly in recent years. Turkey is one of the world’s most popular tourist destinations and is known for its rich history, diverse culture, and exquisite cuisine. The country attracts millions of visitors every year and, and Horeca sector across the country benefit from this […]
By: via Malaysian Palm Oil Council Russia
вторник, 1 августа 2023 г.
Malaysian Palm Oil Council Russia's Post
Palm oil prices may rise above RM4,300 in 2024 on supply, output woes -MPOC
https://mpoc.org.my/palm-oil-prices-may-rise-above-rm4300-in-2024-on-supply-output-woes-mpoc/
KUALA LUMPUR: Malaysia’s crude palm oil prices will trade at RM3,700-RM4,200 a metric ton in the second half of 2023, and will remain supported in the long term, state agency Malaysian Palm Oil Council (MPOC) said on Tuesday. Heading into 2024, there is a strong possibility that prices may rise above RM4,300 a metric ton, […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/palm-oil-prices-may-rise-above-rm4300-in-2024-on-supply-output-woes-mpoc/
KUALA LUMPUR: Malaysia’s crude palm oil prices will trade at RM3,700-RM4,200 a metric ton in the second half of 2023, and will remain supported in the long term, state agency Malaysian Palm Oil Council (MPOC) said on Tuesday. Heading into 2024, there is a strong possibility that prices may rise above RM4,300 a metric ton, […]
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
«Мы располагаем информацией о подготовке РФ к возвращению к переговорам по зерновой сделке» — заявил постоянный представитель США в ООН Линда Томас-Гринфилд
By: via Malaysian Palm Oil Council Russia
By: via Malaysian Palm Oil Council Russia
вторник, 25 июля 2023 г.
Malaysian Palm Oil Council Russia's Post
GRAINS-Corn, soybeans extend losses; wheat eases from 5-month peak
SINGAPORE, July 26 (Reuters) - Chicago corn and soybean futures lost more ground on Wednesday with U.S. forecasts for much-needed rains, following hot and dry weather conditions, easing concerns over crop output.
Wheat slid more than 1%, after rallying on Tuesday to a five-month high following Russia's attacks on Ukrainian ports and grain infrastructure that raised concerns about global supplies.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade CV1 (CBOT) gave up 1% to $5.59-3/4 a bushel, as of 0018 GMT, and soybeans Sv1 dropped 0.6% to $14.11-1/2 a bushel.
Wheat Wv1 lost 1.5% to $7.49-1/4 a bushel after climbing to its highest since Feb. 21 at $7.77-1/4 a bushel in the last session.
Forecasts of crop-friendly rains in the U.S. Midwest weighed on corn and soybean futures.
Traders continue to monitor crop weather in the U.S. Midwest as the region's corn finishes pollinating, a key growth stage in determining yields, while soybeans approach their pod-setting phase in August.
Wheat prices rallied earlier this week after Russia destroyed Ukrainian grain warehouses on the Danube River in a drone attack, targeting a vital export route for Kyiv in an expanding air campaign that Moscow began last week after quitting the Black Sea grain deal.
The International Monetary Fund estimated that Russia's exit from a deal allowing Ukrainian exports via the Black Sea could drive global grain prices up by 10-15%, but said it was continuing to assess the situation.
Commodity funds were net sellers of CBOT corn, soybean and soyoil futures contracts on Tuesday and net buyers of soymeal and wheat futures, traders said.
MARKET NEWS
Global equity markets and U.S. Treasury yields rose on Tuesday ahead of the Federal Reserve's expected interest rate hike and as markets awaited a stream of quarterly results from corporate heavyweights.
By: via Malaysian Palm Oil Council Russia
SINGAPORE, July 26 (Reuters) - Chicago corn and soybean futures lost more ground on Wednesday with U.S. forecasts for much-needed rains, following hot and dry weather conditions, easing concerns over crop output.
Wheat slid more than 1%, after rallying on Tuesday to a five-month high following Russia's attacks on Ukrainian ports and grain infrastructure that raised concerns about global supplies.
FUNDAMENTALS
The most-active corn contract on the Chicago Board of Trade CV1 (CBOT) gave up 1% to $5.59-3/4 a bushel, as of 0018 GMT, and soybeans Sv1 dropped 0.6% to $14.11-1/2 a bushel.
Wheat Wv1 lost 1.5% to $7.49-1/4 a bushel after climbing to its highest since Feb. 21 at $7.77-1/4 a bushel in the last session.
Forecasts of crop-friendly rains in the U.S. Midwest weighed on corn and soybean futures.
Traders continue to monitor crop weather in the U.S. Midwest as the region's corn finishes pollinating, a key growth stage in determining yields, while soybeans approach their pod-setting phase in August.
Wheat prices rallied earlier this week after Russia destroyed Ukrainian grain warehouses on the Danube River in a drone attack, targeting a vital export route for Kyiv in an expanding air campaign that Moscow began last week after quitting the Black Sea grain deal.
The International Monetary Fund estimated that Russia's exit from a deal allowing Ukrainian exports via the Black Sea could drive global grain prices up by 10-15%, but said it was continuing to assess the situation.
Commodity funds were net sellers of CBOT corn, soybean and soyoil futures contracts on Tuesday and net buyers of soymeal and wheat futures, traders said.
MARKET NEWS
Global equity markets and U.S. Treasury yields rose on Tuesday ahead of the Federal Reserve's expected interest rate hike and as markets awaited a stream of quarterly results from corporate heavyweights.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm tracks rival vegetable oils higher
SINGAPORE, July 26 (Reuters) - Malaysian palm oil futures rose on Wednesday, tracking gains in rival vegetable oils and on strong export data.
The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange rose 64 ringgit, or 1.57%, to 4,130 ringgit ($905.70) in early trade.
It fell 2.4% in the previous session.
FUNDAMENTALS
Dalian's most-active soyoil contract DBYcv1 edged up 0.66%, while its palm oil contract DCPcv1 climbed 1.01%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.05%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Malaysia's palm oil exports during July 1-25 rose 10.8% from the month before, according to AmSpec Agri Malaysia.
Data from cargo surveyor Intertek Testing Services on Tuesday showed a 17.8% rise in exports for the same period.
Palm oil may fall further to 4,014 ringgit per metric ton, as pointed by a rising trendline, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian markets were trading mostly weaker ahead of the U.S. Federal Reserve's expected interest rate rise to be delivered later in the day, as investors also weighed the likelihood of a Chinese economic stimulus package.
Oil prices eased, sliding from three-month highs hit the previous day after industry data showed an expected rise in U.S. crude stockpiles, but losses were capped amid signs of tighter global supply and hopes for China's economic stimulus.
By: via Malaysian Palm Oil Council Russia
SINGAPORE, July 26 (Reuters) - Malaysian palm oil futures rose on Wednesday, tracking gains in rival vegetable oils and on strong export data.
The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange rose 64 ringgit, or 1.57%, to 4,130 ringgit ($905.70) in early trade.
It fell 2.4% in the previous session.
FUNDAMENTALS
Dalian's most-active soyoil contract DBYcv1 edged up 0.66%, while its palm oil contract DCPcv1 climbed 1.01%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.05%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Malaysia's palm oil exports during July 1-25 rose 10.8% from the month before, according to AmSpec Agri Malaysia.
Data from cargo surveyor Intertek Testing Services on Tuesday showed a 17.8% rise in exports for the same period.
Palm oil may fall further to 4,014 ringgit per metric ton, as pointed by a rising trendline, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian markets were trading mostly weaker ahead of the U.S. Federal Reserve's expected interest rate rise to be delivered later in the day, as investors also weighed the likelihood of a Chinese economic stimulus package.
Oil prices eased, sliding from three-month highs hit the previous day after industry data showed an expected rise in U.S. crude stockpiles, but losses were capped amid signs of tighter global supply and hopes for China's economic stimulus.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Exploring the Potential of Sustainable Palm Oil in the J-Beauty Industry
https://mpoc.org.my/exploring-the-potential-of-sustainable-palm-oil-in-the-j-beauty-industry/
Japan ranks among the top five countries worldwide in the booming retail cosmetics and toiletries industry. In 2021, its market size for cosmetics and toiletries reached an impressive USD38 billion. The Japanese beauty and personal care market continued to flourish in 2022, generating a substantial revenue of approximately USD41.98 billion. Looking ahead, experts predict a […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/exploring-the-potential-of-sustainable-palm-oil-in-the-j-beauty-industry/
Japan ranks among the top five countries worldwide in the booming retail cosmetics and toiletries industry. In 2021, its market size for cosmetics and toiletries reached an impressive USD38 billion. The Japanese beauty and personal care market continued to flourish in 2022, generating a substantial revenue of approximately USD41.98 billion. Looking ahead, experts predict a […]
By: via Malaysian Palm Oil Council Russia
воскресенье, 23 июля 2023 г.
Malaysian Palm Oil Council Russia's Post
CPO futures likely to experience cautious trading
https://mpoc.org.my/cpo-futures-likely-to-experience-cautious-trading/
KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is anticipated to experience cautious trading this week as market participants zero in on the United States Federal Reserve’s interest rate decision on Wednesday, according to an analyst. Fastmarkets senior analyst Dr Sathia Varqa said the potential decision to increase the interest rate […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/cpo-futures-likely-to-experience-cautious-trading/
KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is anticipated to experience cautious trading this week as market participants zero in on the United States Federal Reserve’s interest rate decision on Wednesday, according to an analyst. Fastmarkets senior analyst Dr Sathia Varqa said the potential decision to increase the interest rate […]
By: via Malaysian Palm Oil Council Russia
вторник, 18 июля 2023 г.
Malaysian Palm Oil Council Russia's Post
Структуры французской Danone и датской Carlsberg в России получили новых топ-менеджеров от Росимущества.
Ведомство назначило Таймураза Боллоева новым руководителем пивоваренной компании «Балтика», а Якуб Закриев назначен гендиректором молочной компании «Данон Россия».
By: via Malaysian Palm Oil Council Russia
Ведомство назначило Таймураза Боллоева новым руководителем пивоваренной компании «Балтика», а Якуб Закриев назначен гендиректором молочной компании «Данон Россия».
By: via Malaysian Palm Oil Council Russia
понедельник, 17 июля 2023 г.
Malaysian Palm Oil Council Russia's Post
The President of Ukraine reacted to the statement of the Russian Federation about withdrawing from the grain agreement.
"We had two agreements: Ukraine, Turkey, UN; another agreement — Russia, Turkey, the UN. Therefore, when Russia says that it is stopping, it is breaking its agreements with UN Secretary General Guterres and President Erdogan. Not with us. We did not have any agreements with them," his press secretary quotes Zelenskyi as saying.
The President of Ukraine noted that the Ministry of Foreign Affairs will contact the UN and Turkey to get an answer regarding the continuation of the grain initiative.
He also stated that ship-owning companies will continue to supply grain if Ukraine and Turkey ensure the passage of ships.
By: via Malaysian Palm Oil Council Russia
"We had two agreements: Ukraine, Turkey, UN; another agreement — Russia, Turkey, the UN. Therefore, when Russia says that it is stopping, it is breaking its agreements with UN Secretary General Guterres and President Erdogan. Not with us. We did not have any agreements with them," his press secretary quotes Zelenskyi as saying.
The President of Ukraine noted that the Ministry of Foreign Affairs will contact the UN and Turkey to get an answer regarding the continuation of the grain initiative.
He also stated that ship-owning companies will continue to supply grain if Ukraine and Turkey ensure the passage of ships.
By: via Malaysian Palm Oil Council Russia
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