01.
08.18
09:01

Palm oil courses slightly under pressure

The prices of palm oil futures at Bursa Malaysia are under slight pressure this morning, as expectations of higher production will increase inventories and depress prices.
The most-traded Oct. 18 event loses 0.1% at lunch break and the last trade was at 2,193 ringgit / ton. On the two previous trading days, prices had risen. So far, 14,203 lots have been traded.
There are no bullish reports. In addition, forecasts of high closing stocks weigh on prices. In Malaysia, the second most important palm oil producer in the world, inventories rose to the high level of November 2015 when 2.9 million tonnes were registered.
July exports fell 3.9% mom.
Soybean oil prices on the CBoT fell by 0.6% and in Chinese Dalian by 0.2%.

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