Overview of Malaysia's Palm Oil Spot Market

Introduction: Kuala Lumpur, September 20 news: Malaysia palm oil spot price continued to fall on Monday, continuing the weakness of last week Today's fall in palm oil spot prices is due to the majority of the world's vegetable oil prices, as well as lower palm oil futures prices in Malaysia Analysts at Derun Lynch said Monday that the government's announcement of lower domestic summer seed production would also support palm oil prices Coupled with last week's reduction in tariffs on vegetable oil, the Indian government is expected to boost demand for imports in the near future As of 1000 GMT, the price of crude palm oil for shipment in September was rm154 per ton (US $1 = RM3.8), 15 ringgit lower than the closing price of the previous trading day, and the delivery price in southern Malaysia October 24 degree palm oil fell $2.50 to $447.5 per ton The October shipment of 33 degree refined palm oil was quoted at $437.50, down $2.50 from the previous session.