Crude palm oil futures in Malaysia to gain on export data

Indian sweets in Little India in Singapore; taken July 2018.Indian sweets in Little India in Singapore; taken July 2018.

Crude palm oil prices are expected to gain on Friday after a rebound Thursday on solid export figures.

Crude palm oil futures rose 0.3 percent to 2,243 ringgit (US$541.40) a metric ton, on volumes of 27,168 lots of 25 metric tons each.

Malaysia palm oil exports are up sharply for the first 10 days of September, according to reports from the Societe Generale de Surveillance (SGS), Intertek Testing Services and AmSpec Agri Malaysia. The three firms which monitor exports reported gains of 44 percent, 63 percent and 69.5 percent respectively for the period.

Ahead, AmSpec releases Malaysia’s September 1-15 palm oil export data on September 15 as does SGS.

 

Get the Shenton Wire Morning Briefing in your inbox