03.
08.18
07:36

Trade dispute weighs on mood at the palm oil market

The prices of palm oil futures are barely changing this morning from yesterday, the weak prices of other vegetable oil derivatives and the trade dispute between the US and China dampens sentiment. Nevertheless, the lunch break rates rose slightly at 0.1%.
The most-traded October 18 date at Bursa Malaysia went into the lunch break with 2,192 ringgit / ton. So far this week, prices have risen by 0.3%. Today's trading volume was rather weak this morning with 10,561 lots.
The market was bearish with weak soybean oil prices at the CBoT and Chinese Dalian. Nevertheless, the prices were able to hold their own in Malaysia. China said yesterday that it will counter its stance if the US continues to raise import duties on Chinese goods. This would further escalate the trade war between the world's two largest economies.
Trump is considering raising import duties on Chinese goods worth $ 200 billion not just by 10%, but by as much as 25%.
At present, soy oil oil on the CBoT is trading 0.18% lower, having even fallen by 1.2% yesterday. However, prices on the Chinese derivatives exchange Dalian rose by 0.1%.

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