Palm oil prices hold near 1-year highs amid strong futures market

Palm oil prices hold near 1-year highs amid strong futures market

Cash prices for palm oil and refined palm products were slightly mixed on the session on Tuesday April 2, in conjunction with seesaw activity in palm oil futures. US Gulf palm oil and palm olein indications dropped back from prior-day ranges but are still holding near one-year high levels. 

On the Bursa Malaysia, the June palm oil contract shed early losses to close above 4,300 ringgit per tonne, at 4,312 ringgit per tonne. This was up 45 ringgit per tonne, or 1.05%.

In the US, palm oil has been losing market share to cheaper animal fats. Lower tallow values when compared to palm oil has resulted in some livestock reformulations in the US feed industry.

Membership is required to view the rest of this post.
Click here to learn more and sign up for a free 7-day trial!

Blog

04.19.2024

Reduced March RIN production not leading to higher RIN Prices

Reduced March RIN production not leading to higher RIN Prices

Total March biofuel RIN production was 1.9 billion RINs, which was 6% below February and 15% below December’s RIN output of 2.25 billion. December had the largest monthly production...

04.19.2024

CWG, YG higher on week, UCO, DCO down again

CWG, YG higher on week, UCO, DCO down again

The market was quiet heading into the weekend. Used cooking oil (UCO) traded in large volume into the Gulf at 40 cents per lb delivered in the truck market.

04.19.2024

Price pressure on ruminant and porcine items for the week

Price pressure on ruminant and porcine items for the week

Sloppy markets were reported for porcine and ruminant items at the close of week ending Friday April 19.

Wide ranges were witnessed on porcine bloodmeal (BM), with a...

Latest Tweets