Malaysian palm oil reaches high in exports
Malaysian palm oil reached more than a three-month high in exports in late January 2013 due to dry weather in main soy-producing areas in Argentina.
by Mariana Angela Garcia
Argentina’s soybean production, one of the largest in the world, is being threatened by a drought causing a decrease in the output of soybean oil.
According to The Edge Malaysia, due to dry weather the soybean yields in Argentina will not be able to produce the same output of soybean oil, therefore gearing buyers to cheaper palm oil, now priced at a discount rate of more than $300. Traders are satisfied as well by Malaysia’s palm oil exports which have improved during the last half of January 2013 to only a 7 per cent fall compared to the double-digit export decline earlier in the month.
For February, prices of Malaysian palm oil are set to post a 5.1 per cent gain.
Even though Malaysia has benefited from Argentina’s dry weather in the market, the Southeast Asian country will continue to experience declines in 2013 facing strong output from competitors such as Indonesia.
Malaysian palm oil reached more than a three-month high in exports in late January 2013 due to dry weather in main soy-producing areas in Argentina. by Mariana Angela Garcia Argentina’s soybean production, one of the largest in the world, is being threatened by a drought causing a decrease in the output of soybean oil. According to The Edge Malaysia, due to dry weather the soybean yields in Argentina will not be able to produce the same output of soybean oil, therefore gearing buyers to cheaper palm oil, now priced at a discount rate of more than $300. Traders are satisfied...
Malaysian palm oil reached more than a three-month high in exports in late January 2013 due to dry weather in main soy-producing areas in Argentina.
by Mariana Angela Garcia
Argentina’s soybean production, one of the largest in the world, is being threatened by a drought causing a decrease in the output of soybean oil.
According to The Edge Malaysia, due to dry weather the soybean yields in Argentina will not be able to produce the same output of soybean oil, therefore gearing buyers to cheaper palm oil, now priced at a discount rate of more than $300. Traders are satisfied as well by Malaysia’s palm oil exports which have improved during the last half of January 2013 to only a 7 per cent fall compared to the double-digit export decline earlier in the month.
For February, prices of Malaysian palm oil are set to post a 5.1 per cent gain.
Even though Malaysia has benefited from Argentina’s dry weather in the market, the Southeast Asian country will continue to experience declines in 2013 facing strong output from competitors such as Indonesia.
