Commodity News
SunSirs: The Export Prospects are Promising, with Malaysian Palm Oil Prices Rising by 2%
October 24 2024 12:32:44 SunSirs (Selena)
On October 23rd, the National Grain and Oil Information Center reported that on October 22nd, the Malaysian Derivatives Exchange (BMD) palm oil futures price rose by 2%, mainly due to Indonesia's possible significant reduction in palm oil exports to support domestic firewood projects, which is beneficial for Malaysia's palm oil exports. As of the close, palm oil futures prices have risen by 52-89 ringgit, with the benchmark 2501 crude palm oil contract rising by 88 ringgit or 2.05%, closing at 4,387 ringgit/ton, equivalent to 1,014.4 US dollars/ton.
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Related Information
- 2025-05-14 SunSirs: The Palm Oil Inventory in Malaysia was 1.865 Million Tons at the End of April
- 2025-05-14 SunSirs: Malaysia Palm Oil Exports Increased 0.6% Month on Month but Decreased 9% from May 1 to 10
- 2025-05-12 SunSirs: Expected Weak and Volatile Palm Oil Prices in China in May
- 2025-05-12 SunSirs: The Inverted Range of Palm Oil Import Prices Continued to Narrow in China Last Week
- 2025-05-08 SunSirs: Negative Led China Palm Oil Market Continues Weak Decline
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