Palm ends lower in making profits after the export data is weak

Futures Malaysian palm oil is closed on Thursday, removing profits from the previous session, on making profits after the report shows weaker export data for the July 1-15 period.

Benchmark Palm Oil Contract FCPO1! For October delivery in the exchange of Malaysian exchanges, lost 12 ringgit, or 0.28%, to 4,212 ringgit ($ 991.76) per metric ton at closure.

“The market is making a weaker export news even though Dalian Palm Oil and Chicago Soyoil supports,” said a trader based in Kuala Lumpur.

According to AMSSPEC Agri Malaysia’s independent inspection company, Malaysian palm oil products exports for the July 1-15 period fell 5.3% from June 1-15, while the Intertek Testing Services cargo surveyor reported a decline of 6.2%.

Meanwhile, Malaysia has raised the price of reference to crude palm oil, raising export tasks to 9% from 8.5% in July.

Soyoil’s price at the Chicago ZL1 Trade Council! up 0.49%. Soyoil’s most active contract Dalian (DBYCV1) added 0.5%, while CPO1 palm oil contracts! up 0.87%.

Palm oil tracks the movement of the price of oil that can be eaten because it competes to get the global vegetable oil market share.

Indonesian biodiesel consumption reached 7.42 million kiloliters this year, on July 16, 47.5% of the 2025 allocation.

The Indonesian Plantation Fund Agency estimates that levies collected in palm oil will touch 30 trillion rupiah ($ 1.84 billion) this year, enough to finance the country’s biodiesel mandate.

Ringgit USDMYR, the Palm trade currency, subside 0.17% to the dollar, making commodities a little cheaper for foreign currency holders.
Source: Reuters