Malaysia CPO ends 1% higher as export duty lifted
Ram Gopal Yadav (8 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended over 1% higher after Malaysia, lifted the 5.5% export duty on the tropical oil. The most-active March contract of crude palm oil on the Malaysian bourse hit an over six-week high of 2,631 ringgits (41,732.63 rupees) per tn earlier, before settling at 2,627 ringgits, 1.3% higher from the previous close. The decision to suspend export duty was taken to reduce Malaysia’s palm oil stocks and strengthen prices. The country’s palm oil stocks were at a near two-year high of 2.56 mln tn at the end of November.

Ukraine reduced rape oil exports in the current season
Ram Gopal Yadav (8 years ago)

Ukraine exported 2.2 KMT of rape oil in November 2017 against 8.9 KMT in the previous month and 10.8 KMT in November 2016. A total 59 KMT of this product was supplied to foreign markets in MY 2017/18 (July-November), or almost 4% less than at the same time last year (61.4 KMT). The reason is a significant rise in rapeseed exports, which more than doubled. The first months of the current season feature a decline in the end markets for Ukrainian rape oil. The number of importing countries almost halved against last year. As before, the bulk was exported to European countries (86% of total exports). China stepped up rape oil purchases from Ukraine more than three times and accounted for 13% of total exports.

Malaysia to suspend export tax on palm oil for three months
Ram Gopal Yadav (8 years ago)

Malaysia, the world’s second-largest palm oil producer, will suspend export taxes on crude palm oil for a three-month period starting on Jan 8 to boost prices. The export tax suspension will be lifted before the three-month period if crude palm oil stocks fall to 1.6 million tonnes.

NCDEX coriander up nearly 2% on short covering
Ram Gopal Yadav (8 years ago)

Futures contracts of coriander on NCDEX gained nearly 2% as investors covered their short positions after prices hit a three-week low of 5,222 rupees per 100 kg. The most active January contract of coriander on the NCDEX traded at 5,365 rupees per 100 kg, up 1.6% from the previous close. The rise in prices was also because of expectations of a smaller crop in 2017-18 (Oct-Sep) as farmers shifted to other lucrative crops in Gujarat.