Malaysian palm oil prices rebound

Introduction: traders said on Friday that Malaysian crude palm oil futures rebounded due to a technical correction, and they expect new trade to be generated by industry gatherings in China and next week One trader said: "the market price will be 1150-1180 ringgit / ton next week I think the price will rise slightly, mainly depending on China." Traders say China will be a key factor in whether Malaysian palm oil futures will reach the maximum of rm1315 / t set up on August 8 last year The benchmark may contract rose 12 ringgit to 1162 ringgit (US $305.79) / ton in the closing third month, with the lowest price of 1141 ringgit / ton, higher than the key support of 1135 ringgit / ton Volume was 2215 Traders say the annual palm oil and lauric acid oil meeting in the Malaysian capital from March 6 to 8 is expected to provide new directions for the market Traders said there was news that China could delay the issuance of palm oil import licenses to the second week of March, becoming a key factor affecting the market There were also reports of delays in licensing in China's market on Friday China has announced a long-awaited quota of 2.4 million tons of palm oil imports this year, up from 1.4 million tons last year In the aspect of natural palm oil, in March, the offer price of southern and central regions of the contract was 1145 ringgit / ton, and the offer price was 1140 ringgit / ton It was reported that the transaction price of southern region was 1137.50-1140 ringgit / ton, and that of central region was 1140 ringgit / ton In April, the offer price of southern and central China was 1160 ringgit / ton, and the offer price was 1150 ringgit / ton No transaction was reported.