Crude Palm Oil (CPO) futures showed a modest uptick at the start of the week, reflecting mixed signals across global vegetable oil markets.
๐ Market Highlights
- CPO Futures: The February 2025 contract edged up 0.07%, closing at 4,021 ringgit ($984) per tonne. Nearby contracts gained between 3โ20 ringgit, while later months slipped by 3โ12 ringgit.
- Chinaโs Vegetable Oil Market: Palm olein and soybean oil futures on the Dalian Commodities Exchange traded lower. The most active soybean oil contract fell 22 yuan ($3.12), while palm oil eased by 4 yuan.
- India Import Offers: January shipments of CPO were quoted at $1,100โ1,102.50 per tonne CFR West Coast India, with February offers slightly higher at $1,107.50โ1,110 per tonne.
- Currency Impact: The ringgit strengthened 0.01% against the dollar, contributing to sideways momentum in CPO futures.
๐ง What This Means
The palm oil market continues to balance currency shifts, regional demand, and competing vegetable oil trends. While futures remain steady, import offers to India highlight ongoing demand resilience.
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