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Malaysian Palm Oil Surge Today After Hits 14-Month Low Yesterday

Malaysian Palm Oil : Trade Today Above MYR 3,600 As Tumbled below the MYR 3,500-per-tonne mark, a level
not seen since June 2021, pressured byprospects of increasing supplies and weak global demand.

The output from Indonesia and Malaysia, the world’s top producers, is expect to rise sharply over the following
months as both countries enter the peak production season.

Malaysian Palm Oil inventories at the end-August surged roughly 15% to 2.03 million tonnes, the highest since
April 2020, while exports from the country are seen lower.

Adding to the bearish outlook, essential buyer China imposed new coronavirus-induced restrictions in several cities,
raising concerns over demand for the edible oil.

On top of that, rival Indonesia extended the export waiving levy until the end of October, which, coupled with high export volumes, will boost exports from the world’s largest producer.

What Is Palm Oil And where It Descover ?

Crude Palm oil is vegetable oil and it’s used primarily in processed food. Indonesia and Malaysia constitute 85%
of the world’s palm oil supply followed by Nigeria, Thailand and Colombia.

The contract size is 25 metric tons and it’s trad at Bursa Malaysia. The Palm oil prices displayed in Trading
Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments.

Our market prices are intend to provide you with a reference only, rather than as a basis for making trading
decisions. Trading Economics does not verify any data and disclaims any obligation to do so.