Palm oil price recovers from 12-week low
Malaysian palm oil futures rose, holding above MYR 4,100 (≈USD 978) per tonne. Prices had earlier fallen to a 12-week low, but a weaker Malaysian ringgit and positive momentum in the Dalian soybean oil market supported the recovery. An additional factor in the rise was a 4.3-5.2% increase in oil exports from Malaysia in October compared to the previous month.
However, further growth was limited by a decline in imports to India, the world’s largest buyer, where oil purchases fell to a five-month low in October. As a result, total oil imports in the 2024/2025 season reached a five-year low as buyers switched to more affordable soybean oil after higher palm oil prices.
According to a Reuters forecast, Malaysian oil inventories could increase by 3.5% in October, reaching 2.44 million tonnes, which would be the highest level since October 2023.
For almost 30 years of expertise in the agri markets, UkrAgroConsult has accumulated an extensive database, which became the basis of the platform AgriSupp.
It is a multi-functional online platform with market intelligence for grains and oilseeds that enables to get access to daily operational information on the Black Sea & Danube markets, analytical reports, historical data.
You are welcome to get a 7-day free demo access!!!
Read also
EU, Asia, and Africa remain key markets for Ukrainian corn exports in October
Ukrainian wheat shipment arrives in Syria to boost strategic reserves
China partially eliminates duties on US agricultural products
Falling palm oil quotes increase pressure on sunflower oil and seed prices in Ukraine
Kazakhstan completes grain harvest
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon