Malaysia palm oil prices fall

Introduction: traders said Malaysian palm oil futures fell to the negative on Wednesday due to technical unwinding and slow spot trading The benchmark July contract for the third month ended 15 ringgit lower at 1243 ringgit / ton ($327.11 / ton), with a maximum closing price of 1261 ringgit / ton Volume was moderate at 1260 hands Rumors in the spot market that India plans to raise import tariffs on palm oil have raised concerns among processors, who complain that processing profits are too low "The market is spreading everywhere that India will raise tariffs, but no one can confirm it," said one trader Palm oil market trading is slow, and palm oil prices have remained basically unchanged in the past few days The mills are talking about lower profits The price must be at least 357.50-360 US dollars / ton for the processing plant to make profits " On Wednesday, RBD brown liquid oil delivered at 350 USD / ton in May and 352.50 USD / ton fob in June Many traders and analysts claim that the market is in a technical adjustment, although SGS reports that palm oil exports fell from 391083 tons on April 1-15 to 389616 tons on May 1-15 Many traders had expected palm oil exports to be at least 400000 tonnes in the first 15 days of May "The closing price this week is critical," said one analyst I believe that the price of rm1273 / T is a very strong resistance level " He believes that the support level for the rise is rm1208 / T, and the main support level is rm1223 / T The resistance level is 1256-1273 ringgit / ton In the spot palm oil market, in May, the offer price of the contract in the southern and central regions was 1247.50 US dollars / ton, the offer price was 1255 ringgit / ton, the transaction price in the southern region was 1250-1255 ringgit / ton, and the transaction price in the central region was 1255-1260 ringgit / ton In June, the offer price for the southern and central regions of the contract was 1255 ringgit / ton, and the offer price was 1250 ringgit / ton It was reported that the transaction price for the southern region was 1255 ringgit / ton (author:) share to feed Weibo share to: