Malaysian palm oil stockpiles hit record amid output surge
3 Articles
3 Articles
Palm oil futures in Malaysia rose on Monday, breaking a series of six sessions of declines. The December contract on Bursa Malaysia Derivatives rose by 43 ringgit, or 0.95%, to 4,578 ringgits/t ($1,120.69/t). The market was supported by the growth of soybean oil in Chicago. Soybean oil quotes on the CBOT increased by 1.85%, which boosted demand and [...] The post Palm oil rose in price after six sessions of falls first appeared on UkrAgroConsult.
According to a Bloomberg survey, Malaysia's palm oil inventories are estimated to have increased by approximately 22 percent in September, reaching 3.45 million tons. The rise in production and decline in exports could be a determining factor in prices.
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