# Palm oil holds near 10-year high on tight supply outlook.
# Palm oil is affected by price movements in related oils as they compete
for a share in the global vegetable oils market.
# IOI Corp Bhd group MD and CEO Datuk Lee Yeow Chor : there will be a
challenge to meet global demand due to risks including the shortage of
workers and the La Nina weather pattern.
# Sentiments in Malaysia is concerning as the market's risk appetite was
curbed by renewed concerns over possible lockdowns in certain states and
the uncertainties in the local political scene.
# Support seen after forecast of a deep cut in December supply and
tracking strength in Brent crude oil and rival Dalian oil.
# Palm prices will remain supported in January due to the projected low inventory and potential supply disruption from floodings in some parts of Malaysia
# Brent oil prices rose to the highest since February after Saudi agreed to make bigger cuts in output than expected during a meeting with allied producers, making palm a more attractive option for biodiesel feedstock.
# MALAYSIA'S CRUDE PALM OIL PRODUCTION PROJECTED TO RISE BY NEARLY 1MILLION TONNES IN 2021
# INDONESIA'S CRUDE PALM OIL PRODUCTION PROJECTED TO RISE BY NEARLY 4.5 MILLION TONNES IN 2021 REUTERS
# Weather disruption and labour shortages mean global palm oil production is unlikely to stay on trend to hit growth projections of more than 6 million tonnes this year
# LMC International: If Indonesia had lowered the palm oil content of its biodiesel from 30% to 20% last year, CPO prices would have declined by between US$100 and US$200 (RM400 and RM800) per tonne.
# Talk that Jakarta may adjust its B30 biodiesel mandate as diesel prices stayed low, while CPO prices were on an uptrend. Lowering of the bio-content would have resulted in an extra 2.5 million tonnes of palm oil entering the market.
# Dry growing conditions in South America are stoking worries of soybean yield losses. oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Get accurate MCX Commodity tips and make daily huge profits in the commodity market every day as we trade in it with intraday perspective only.
You
should Trade Less But Trade Accurately & this is Achieved with our Tip.
