PALM NEWS MALAYSIAN PALM OIL BOARD Wednesday, 08 Apr 2026

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MARKET DEVELOPMENT
VEGOILS-Weak Demand Sends Palm Oil to Sharpest Drop in Nearly A Month
calendar14-09-2016 | linkReuters | Share This Post:

* Palm charts sharpest drop since Aug. 18

* Weaker market on slower exports, expected output rise-trader

(Updates prices, adds trader quote)

14/09/2016 (Reuters) - Malaysian palm oil futures registered their biggest fall in nearly a month in evening trade on Tuesday, dragged down by forecasts of rising output in September and slower export demand from China and India.

Benchmark palm oil futures for November closed 1.8 percent down at 2,592 ringgit ($631) a tonne on the Bursa Malaysia Derivatives Exchange for the biggest fall since Aug. 18 and having hit an intraday low of 2,589 ringgit.

Traded volumes stood at 55,771 lots of 25 tonnes each,compared with the 2015 average of 44,600.

"Data from the Malaysian Palm Oil Board (MPOB) is bullish, but moving forward we've got poor exports and a production rise," said one Kuala Lumpur-based trader, referring to official data from an industry regulator.

"The market expects that end stocks will be replenished later."

Palm oil shipments from Malaysia fell 15-16 percent between from Sept. 1 and Sept. 10 compared with the corresponding period in August, data from cargo surveyors Intertek Testing Services and Societe Generale de Surveillance showed.

Malaysia's palm oil stocks at the end of August were down 17.3 percent month on month to 1.46 million tonnes, the MPOB said on Tuesday, while exports jumped by 30.9 percent.

Output is expected to show a seasonal uplift in September and October. (MYPOMP-CPOTT)

A Reuters poll found that August end-stocks in Malaysia were expected to decline 9.6 percent to 1.6 million tonnes while production was expected to rise 9.7 percent to 1.74 million tonnes.

In related vegetable oils, the January soybean oil contract on the Dalian Commodity Exchange fell 0.2 percent while the Chicago Board of Trade's December soybean oil contract lost 0.3 percent.

Palm, soy and crude oil prices at 1043 GMT

Contract Month Last Change Low High Volume

MY PALM OIL SEP6 2850 -46.00 2850 2870 66

MY PALM OIL OCT6 2678 -46.00 2676 2732 4267

MY PALM OIL NOV6 2589 -48.00 2589 2645 27843

CHINA PALM OLEIN JAN7 5558 +28.00 5448 5562 1113042

CHINA SOYOIL JAN7 6260 -12.00 6186 6262 514900

CBOT SOY OIL DEC6 32.55 -0.10 32.38 32.97 12999

INDIA PALM OIL SEP6 0.00 +0.00 0.00 0 0

INDIA SOYOIL SEP6 0 +0.00 0 0 0

NYMEX CRUDE OCT6 45.24 -1.05 45.04 46.13 82928

Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel

($1 = 4.1050 ringgit)
($1 = 66.8720 Indian rupees)
($1 = 6.6796 Chinese yuan)