28.
09.18
09:23

Palm oil: high stocks in Malaysia and Indonesia

This morning, palm oil futures on Bursa Malaysia are trading losses for the second consecutive day. The high palm oil stocks in Indonesia and Malaysia weigh on the market. With a price decline to 2,161 ringgit / ton (-0.2% / $ 522.23), the most liquid maturity of December 18 went into the lunch break. However, the market has so far gained 0.8% on a weekly comparison. By lunchtime, 28,056 contracts per 25 tons were traded on all maturities.
Southeast Asian palm oil stocks will reach record highs in October or November, according to a Reuters survey of traders and analysts.
Indonesian stocks peak at 5 million tons and Malaysian stocks are expected to rise to almost 3 million tons. In August, stocks in Malaysia rose to a seven-month high of 2.49 million tonnes.
On the CBoT, soybean oil futures will mature December 18, with losses of 0.48%. Soybean oil futures on the Dalian Commodity Exchange trade 0.03% on January maturity and 0.43% on palm oil futures due January.

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