皇冠体育寻求亚洲战略合作伙伴,皇冠代理招募中,皇冠平台开放会员注册、充值、提现、电脑版下载、APP下载。

首页社会正文

登1登2登3代理(www.hg108.vip)_CPO futures market to see technical correction next week

admin2022-06-2723

登1登2登3代理www.hg108.vip)实时更新发布最新最快最有效的登1登2登3代理网址,包括新2登1登2登3代理手机网址,新2登1登2登3代理备用网址,皇冠登1登2登3代理最新网址,新2登1登2登3代理足球网址,新2网址大全。

,

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to experience technical correction next week with high supply in the market weighing on prices.

Interband Group of Companies senior palm oil trader Jim Teh said higher stocks in Malaysia and Indonesia, which together stood at more than six million tonnes, coupled with production season in the domestic market would put pressure on prices.

"Exports data for June 1-20 are not that encouraging and we are heading into (a possible) recession where people would only buy what they need.

"Because of inflation, buyers would be very cautious on the pricing,” he told Bernama.

Teh said despite the recent selldown in CPO, the planters were still making profits given the cost of production which ranged between RM1,600 and RM1,800 per tonne.

For the week just ended, the Malaysian CPO futures were mostly influenced by massive selloff in palm and soya bean oil on the Dalian Commodity Exchange, weakness in the June 1-20 exports data, and higher palm exports coming out of Indonesia ahead of peak production months.

On a Friday-to-Friday basis, spot month July 2022 fell sharply by RM881 to RM4,798 a tonne, August 2022 dropped RM822 to RM4,702 a tonne, benchmark September 2022 lost RM790 to RM4,664 a tonne, and October 2022 declined RM761 to RM4,668 a tonne.

Total volume rose to 438,658 lots from 397,816 lots in the previous week, while open interest narrowed to 215,808 contracts from 298,491 contracts previously.

The physical CPO price for July South finished the week at RM4,900 a tonne compared with June South’s RM6,550 a tonne on the previous Friday. - Bernama


转载说明:本文转载自Sunbet。

网友评论