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Malaysian Palm Oil Revives Amidst Strong Export Performance

Published Date: March 27, 2024

On Wednesday, Malaysian palm oil commodities saw a rise in prices due to improved export data and the anticipation of slower output growth in March. By the end of the afternoon session, the industry-standard palm oil contracts FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange had increased by 72 ringgit, or 1.71%, to 4,273 ringgit ($902) per metric ton.

A dealer headquartered in Kuala Lumpur stated, "Today's crude palm oil derivatives are based on rumours of improved export statistics and the quantity produced surge for the initial 20 days of March was less than what was achieved in the first 15 days." According to cargo investigators Intertek Testing Services and Amspec Agri, exports of Malaysian palm oil products are expected to increase by 7.4% to 16.3% between March 1 and 20 compared to the same period last month. This is an acceleration from the 3.3% to 8.4% monthly export growth predicted for the first half of March., designed in India, for the world, is a user friendly SaaS based global trade hub and your streamlined solution for procurement and sales of B2B commodities such as rice. On the platform, connect with verified global Bulk Edible Oil Buyers or bulk edible oil  sellers, bypass middlemen for higher profits, and secure the best bulk prices for your business, effortlessly. Simplify your rice sales or procurement with

Palm Oil May Reverse Gains, Analyst Predicts Trading Range

Dalian's soy oil contract, DBYcv1, increased 0.71%, while its palm oil contract, DCPcv1, increased 2.45%. On the Chicago Board of Trade BOc2, soybean prices increased by 0.55%. Because related oils compete with one another for market share in the worldwide vegetable oils industry, palm oil is impacted by changes in price. According to Reuters technical expert Wang Tao, the upward trajectory from 3,916 ringgit or 3,811 ringgit reversed itself and palm oil may now trade between 4,158 and 4,170 ringgit per metric ton.

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