01.24.2025
Renderer BFT trades higher to close out the week
Renderer grade bleachable fancy tallow (BFT) traded up to 50 cents per lb Chicago on Friday January 24 in a five-car trade.
Prices into the Gulf were higher as well,...
Palm oil futures on the Bursa Malaysia exchange gave up earlier gains and moved lower on Monday October 14, due to profit-taking and losses in rival edible oil markets, Fastmarkets heard. Expectations of a rebound in palm oil production also put pressure on prices.
The benchmark December palm oil futures contract settled at 4,313 Malaysian ringgit ($1,005) per tonne on Monday, down by 37 ringgit per tonne, or 0.9%, from a close of 4,150 ringgit per tonne on October 11.
Typically, palm oil is the cheapest of all the edible oils and is usually priced at a discount of $30-40 per tonne to soybean oil, but it has been trading at a premium since August.
Meanwhile, cash palm oil and products have been holding a sharp price premium to most other vegetable oils and animal fats.
On Monday, Fastmarkets assessed the price of palm oil, RBD, fob US Gulf, at 57.75-58.25 cents per lb, up from 57.50-58.00 cents per lb a week earlier.
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