Palm oil daily price 23 October

Palm Oil Analytics - Palm futures pulled back today after reaching 6 weeks high pricing last week. While exports looked positive, so was production for the first 20 days of the month, according to SPPOMA data which largely covers the southern peninsular of Malaysia. SPPOMA 1-20 Oct production was up 5.50%. Meanwhile, exports for the same period was up 18.30% - SGS data. Production data from MPOA will be main price swing variable this week. Early indications show produc-tion is still abundant particularly from Sabah, threatening to sus-tain higher supply even if the pace of exports rises faster than production. But production will have to slowdown after months of bountiful crop since July. The most active month Jan-24 traded 3772-3717 or up 1 and down 54 points. Losses were trimmed in the second half but was not sufficient to stay in the black. The ringgit sunk 0.58% to a dollar as the dollar stay on the uptrend for now.

Palm Oil Price Closing Market FOB Malaysian Ports CPO 777 USD

Crude Palm Oil CIF Rotterdam 910 USD

Crude Palm Oil Futures FCPO 3740 MYR