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    Home > Active Ingredient News > Feed Industry News > Malaysian palm oil prices rebound

    Malaysian palm oil prices rebound

    • Last Update: 2001-04-05
    • Source: Internet
    • Author: User
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    OA show ('918 '); [Malaysian palm oil price rebound] traders claimed that the short covering price of Malaysian palm oil futures rebounded on Wednesday because of the rumor that ringgit will depreciate Reports that palm oil prices were too high relative to its main competitor soybean oil added to traders' concerns A trader in Kuala Lumpur said: "rumours of the devaluation of ringgit make up for the short position But the whole picture hasn't changed because the Treasury Secretary hasn't said anything about it yet " "The market as a whole is not sure whether the government will take such drastic measures," he added Traders claim that the April / may refined soybean oil India C & F offer is $523 / ton (including tax), compared with the RBD brown oil C & F India offer is $558 / ton (including tax) Traders claim the palm oil futures market is affected by Malaysia's stock market, which has fallen to its lowest level in two years for fear of a recession and a devaluation of ringgit Speculation is likely to devalue Malaysia's current currency, ringgit, which is currently trading at 1 US dollar = 3.8 ringgit against the US dollar Traders say heavy rains in the past few days have also led to expectations that palm oil production in the world's leading palm oil producers will increase further in the coming months "We should go into the dry season, and if we keep the current rainfall situation, we will see a further increase in production," one grower said Ivan Wong, a private forecaster, expects palm oil production to reach 890000-895000 tons in April, up from 840000-845000 tons in March Benchmark June contract day low of rm851, closing down 15 rm862 (US $226.84) / ton Volume was 1941 hands In April, the offer price of crude palm oil in South China was 845 ringgit / ton, the offer price was 835 ringgit / ton, and the transaction price in two regions was 835 ringgit / ton The offer price in the middle of April is 850ringgit / ton, and the offer price is 837.50ringgit/ton The offer price of crude palm oil in May (South and central) is 865 ringgit / ton, and the offer price is 857.50 ringgit / ton (USD = 3.8 ringgit) China feed industry information network dqz (author:)
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