March 26 Asian palm oil spot market Commentary: the spot market price increases stability

Beijing Lin PETROFER message March 27: March 26, the Asian region amidst palm oil spot market prices rose, mainly due to gross up palm oil futures market, spot purchasing interest.

March 26, Malaysia Derivatives Exchange (BMD) CPO futures market closing prices, mainly due to the international crude oil and soybean oil the United States stronger. Exports of higher-than-expected, but also adds the benefit of the market atmosphere. Benchmark CPO contract in June up 63 ringgit to close at 2,035 ringgit / ton.

Distributor that is currently 24 degrees refined soybean oil palm oil has been cheaper than the 50 U.S. dollars, higher than the previous 30 U.S. dollars, which makes the former more competitive prices, thus attracting buyers to purchase.

Indonesia in April to maintain the gross export of palm oil and derivatives zero tariff unchanged, this does not affect prices too much.

Overall, the palm oil market, the lack of news, so most of the time in palm oil prices are likely to be about the external market.

ITS is expected to investigate shipping agency in March this year, Malaysian palm oil exports 1-25 day 908,404 tons of palm oil, last month a reduction of 9% over the same period. In addition, a body of SGS is expected to export 952,365 tons, last month a reduction of 5.6% over the same period is also five months of the lowest level since the same period.

(Li Lei for reference only)