News
Palm oil signals mixed
SINGAPORE (July 17): Signals are mixed for palm oil, as it failed to break a resistance at RM1,984 per tonne. The resistance is identified as the 50% projection level of a downward wave c from RM2,059. This barrier triggered a correction, which could be regarded as a pullback towards a falling trend...
Palm oil gains, tracking stronger crude, soyoil
KUALA LUMPUR (July 17): Malaysian palm oil futures reversed early losses to end higher on Wednesday evening, supported by a weaker ringgit and tracking gains in crude oil and soyoil on the Chicago Board of Trade (CBOT). The benchmark palm oil contract for October delivery on the Bursa Malaysia Deriv...
Malaysia and Indonesia to jointly fight EU’s palm oil ban at WTO
Council of Palm Oil Producing Countries (CPOPC) said Indonesia and Malaysia will jointly seek justice at the World Trade Organisation (WTO) as the EU presses on to ban palm oil.By Ooi Tee Ching – July 16, 2019 @ 8:02pm KUALA LUMPUR: Council of Palm Oil Producing Countries (CPOPC...
Malaysia’s palm oil futures dominance challenged by upstart
KUALA LUMPUR (Bloomberg): Palm oil futures have been trading on Singapore’s Asia Pacific Exchange for just three months, but they’re already making their mark in a world long dominated by the benchmark contract in neighboring Malaysia. The Chinese-backed bourse started trading crude palm oil fu...
India’s palm oil imports drop 16% in June
NEW DELHI (July 15): India’s palm oil imports dropped 16% in June from the previous month, while overall edible oil imports declined by about 9%. The world’s biggest importer of vegetable oil bought 686,886 tonnes of palm oil last month compared with 818,149 tonnes in May. According to t...
Palm oil may rise to RM1,966
SINGAPORE (July 15): Palm oil may rise to RM1,966 per tonne, as it could have bottomed around a support at RM1,929. The support is identified as the 86.4% projection level of a downward wave c from RM2,059. The bounce from the July 10 low of RM1,916 and the bullish divergence on the hourly MACD sugg...
