• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

VEGOILS Palm climbs on firmer rival oils, supply shortages

Mark White by Mark White
January 3, 2022
in Cargo
0

  • Palm rises to highest since Dec. 14
  • Palm oil shortage is true, fundamentals are supportive – trader

KUALA LUMPUR, Dec 28 (Reuters) – Malaysian palm oil futures gained on Tuesday to their highest in two weeks, buoyed by strength in rival Chicago and Dalian oils as well as supply shortages.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange was up 3.56% at 4,768 ringgit ($1,141.08). The contract has risen for a fifth session in six.

Dalian’s soyoil contract gained 1.23%, while its palm oil contract rose 1.32%. Soybean oil prices on the Chicago Board of Trade for May delivery climbed 1.41%.

Register now for FREE unlimited access to Reuters.com

Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.

A Kuala Lumpur-based trader said there was buying interest given the supply shortages and supportive fundamentals.

“There is palm oil shortage due to the floods. On ground, this sentiment is strong,” he said, adding that better exports together with strength in rival oils also helped the contract.

The market has been expecting a softer December output due to harvest disruptions after floods two weekends ago affected eight states in Malaysia.

Exports of Malaysian palm oil products for Dec. 1-25 rose 0.2% to 1,338,255 tonnes from 1,336,125 tonnes shipped during Nov. 1-25, cargo surveyor Societe Generale de Surveillance said on Monday.

($1 = 4.1785 ringgit)

Register now for FREE unlimited access to Reuters.com

Reporting by Liz Lee; Editing by Subhranshu Sahu, Vinay Dwivedi and Uttaresh.V

Our Standards: The Thomson Reuters Trust Principles.

Source link

Previous Post

European stocks kick off 2022 at record highs

Next Post

Dyson supplier ATA to work with human rights commission

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post
Dyson supplier ATA to work with human rights commission

Dyson supplier ATA to work with human rights commission

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News