After two days of gains, Malaysian palm oil futures fell on expectations of a recovery in production and a reduction in exports, as well as under pressure from lower prices for competing oils. Adding to the uncertainty in the markets is Trump's announcement that he will impose tariffs on Canadian goods, including canola oil, from March 4, forcing sellers to look for new markets.
📉 April palm oil futures on the Bursa exchange fell 2.2% yesterday to 4,511 ringgit/t or $1,016/t (-2.9% for the week). 📉 Amid improving weather in South America, March soybean oil futures on the Chicago Board of Trade fell 5.4% to $987/t (-0.9% month-on-month) during the week, losing the speculative growth of February.
📉 On the Chinese exchange in Dalian, the most active soybean oil contract rose by 0.91% yesterday, while palm oil CPO1 fell by 1.09%. 💡 At a conference held this week in Kuala Lumpur, analysts predicted a recovery in palm oil production in Malaysia and a reduction in demand from importers, which would lead to a drop in prices in the coming months.
⚖️ According to estimates by surveyor Intertek Testing Services, Malaysia reduced its exports of palm oil products by 2.7% between February 1 and 25 compared to the same period in January.
🔎 In Ukraine, sunflower and sunflower oil prices increased slightly this week but fell again yesterday amid falling quotes on neighboring markets. Sunflower with an oil content of 52% fell by 500-1000 UAH/t to 27,000-27,500 UAH/t with delivery to the factory.
