On August 9, palm oil price in European market stabilized
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Last Update: 2002-08-15
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Source: Internet
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Author: User
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Introduction: the closing price of palm oil in the European market on Friday was stable The closing price of palm oil in the European market on Friday was stable The market is looking forward to the latest Malaysia palm oil export data to be released on Monday Palm oil closed flat to $5 higher on Thursday, with only 24 degree refined palm oil traded at $407.50 per ton in September and $410 per ton in October December Ivan Wong, a private analyst at 98g, adjusted Malaysia's production and inventory estimates for July without any impact on the market Wong estimated that Malaysia's palm oil production in July was 1 million tons, 6.5 percentage points higher than that in June, and the inventory at the end of July was 940000 tons, compared with 910116 tons at the end of June In his earlier forecast report, Wong estimated that the output in July was 965000 tons, and the inventory at the end of the month was 905000 tons A 98g trader said Ivan Wong's forecast adjustment was expected, so it had no impact on the market According to traders, the market is waiting for Monday's USDA production report, which makes the market more quiet Due to the lack of purchasing power in the market, soft oil closed down 5 euros per ton, Chicago soybean oil futures opened up mixed, and there was no sense of direction to the European market There was no deal all day Aromatic oil was also not traded, with tail market prices down $5 per tonne from flat.
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