Login ID:
Password:
Partner Login
Contact Us : 7066511911

BMD Palm Oil Drops 1% During Mid-Session Tracking Cheaper Rival Oils

10 Aug 2020 11:43 am
 Comments 0 Comments  |  Comments Post Comment  |  Font Size A A A 

Mumbai (Commodities Control) – Malaysian palm oil futures fell 1% on Monday, dragged down by weaker rival oils on the Dalian Commodity Exchange, with investors keeping an eye on official supply and demand data for July.

The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange slid 28 ringgit, or 1.02%, to 2,730 ringgit ($651.55) a tonne by the midday break, after falling as much as 2.53% earlier.

The market was volatile during early trade, with the Malaysian bourse tracking Dalian palm oil, a Singapore-based trader said.

Malaysia's palm oil inventories at the end of July sank 10.55% from June to 1.7 million tonnes, according to the Malaysian Palm Oil Board (MPOB) data released during the midday break. 

Production fell 4.14% from the month before, less than estimates of a 5% decline, according to a Reuters poll.

"(There were) no major surprises on a first glance and all data seems in line with expectations and priced in," said Marcello Cultrera, institutional sales manager and broker at Phillip Futures in Kuala Lumpur.

Dalian's most-active soyoil contract fell 1.55%, while its palm oil contract slipped 1.94%. Soyoil prices on the Chicago Board of Trade were down 0.1%.

(Commodities Control bureau)

 



       
  Rate this story 1 out of 52 out of 53 out of 54 out of 55 out of 5 Rated
0.0

   Post comment
Comment :

Note : This forum is moderated. We reserve the right to not publish and/or edit the comment on the site, if the comment is offensive, contains inappropriate data or violates our editorial policy.
Name :  
Email :  
   

Top | Post Comment  

Latest Market Commentary
Indonesia exported 3.13 M ton Palm oil in July, Malaysi...
Musterd Crosses Rs. 5500/Q in Jaipur On Strong Buying, ...
Mustard Seed, Oils Extended Gains In Mandis, Futures Fi...
BMD CPO Ends 9.6% Higher This Week; Rival Oils Rise, ...
India 2020-21 Kharif Oilseed Sowing Up As On Sep 18,202...
more
Top 5 News
Indonesia exported 3.13 M ton Palm oil in July, Malaysi...
Guar Gum Firms Up In Jodhpur, Jaipur, Trade Was Thin On...
Sugar Prices Stable, Market Looks For Support through P...
Wheat Prices Down In Delhi, Bareilly, Mills Were Not Wi...
Musterd Crosses Rs. 5500/Q in Jaipur On Strong Buying, ...
Top 5 Special Reports
USD/INR (Sep 20) Needs to Surpass Resistance at 74.2...
USD/INR (Sep 20) Needs to Surpass Resistance at 74.2...
USD/INR (Sep 20) Needs to Surpass Resistance at 74.2...
USD/INR (Sep 20) Needs to Surpass Resistance at 74.2...
Weekly: Urad, Masoor, Chana Gain Most This Week, Moong ...
Copyright © CC Commodity Info Services LLP. All rights reserved.