皇冠现金网
热门标签

哈希108竞彩平台(www.hx198.vip):High supply concern to weigh on CPO futures next week

时间:3周前   阅读:6   评论:3

哈希108竞彩平台www.hx198.vip)采用波场区块链高度哈希值作为统计数据,游戏数据开源、公平、无任何作弊可能性,哈希108竞彩平台开放单双哈希、幸运哈希、哈希定位胆、哈希牛牛等游戏。

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to experience technical correction next week, as concerns over production and inventory will weigh on investors’ appetite.

Interband Group of Companies senior palm oil trader Jim Teh said the current high supply in palm oil producing countries might continue to hurt CPO prices next week, which will likely range between RM3,400 and RM3,600 a tonne.

"The market will move in a yo-yo mode as investors are cautious. There are high inventories in producing countries such as Malaysia and Indonesia following good weather, and this will influence trading,” he told Bernama.

Commenting on the extension of Indonesia’s palm oil export levy waiver to Oct 31, Teh said the new policy would continue to weigh on the local market as the cheaper prices offered by Indonesia would definitely woo more buyers.

This included potential demand from India ahead of a series of Hindu festivals lined up over the next two months starting with Ganesh Chaturthi, Navaratri, Dussehra, and the biggest festival in the country, Deepavali.

"Price-wise, we may be losing to Indonesia. However, our ports efficiency that is better than Indonesia will provide us some advantages,” he said, citing forex speculative play by traders and the movement of ringgit versus the US dollar would also weigh on buying next week.

For the week-just-ended, Malaysian CPO futures started the week on a firm note mostly influenced by the bullish soybean market. Trend started to decline Thursday onwards due to concerns over inventory.

,

新2最新网址www.hg108.vip)实时更新发布最新最快最有效的新2网址和新2最新网址,包括新2手机网址,新2备用网址,皇冠最新网址,新2足球网址,新2网址大全。

,

On Wednesday, the Malaysian Palm Oil Association announced that Malaysia’s CPO production for August 1-20 rose 16.18 per cent month-on-month, with production in Peninsular Malaysia increasing by 11.87 per cent, Sabah (+33.36 per cent) and Sarawak (+4.66 per cent).

On a Friday-to-Friday basis, the CPO futures contract for spot month September 2022 increased by RM59 to RM4,149 a tonne, October 2022 advanced RM73 to RM4,174 a tonne, November 2022 was RM79 higher at RM4,172 a tonne, and December 2022 surged RM178 to RM4,281 a tonne.

Meanwhile, January 2023 rose RM87 to RM4,219 a tonne and February 2023 soared RM152 to RM4,333 a tonne.

Total volume expanded to 304,049 lots from 278,307 lots in the previous week, while open interest narrowed to 181,420 contracts from 183,505 contracts previously.

The physical CPO price for September South fell RM50 to RM4,250 a tonne. - Bernama


转载说明:本文转载自Sunbet。

上一篇:皇冠管理端登3手机:Unspecific complaints hamper ministry probe, says Nanta

下一篇:约搏单双游戏(www.eth108.vip):TREASURIES-U.S. benchmark yield curve hits biggest inversion in 12 years

网友评论

  • 2022-09-21 00:13:27

    PETALING JAYA: Khazanah Nasional Bhd will be consolidating its commercial and strategic funds into a single portfolio to further streamline the performance management and monitoring of its investments, says managing director Datuk Amirul Feisal Wan Zahir.(pic)实名羡慕

  • 2023-01-05 01:23:59

    soi cầu xsmb vip(www.84vng.com):soi cầu xsmb vip(www.84vng.com) cổng Chơi tài xỉu uy tín nhất việt nam。soi cầu xsmb vip(www.84vng.com)game tài Xỉu soi cầu xsmb vip online công bằng nhất,soi cầu xsmb vip(www.84vng.com)cổng game không thể dự đoán can thiệp,mở thưởng bằng blockchain ,đảm bảo kết quả công bằng.
    这是强者的世界吧