A sharp fall was averted as the Indonesian government has temporarily lift an export levy on palm oil products

Malaysia palm oil future prices reverse with the losses, BMD CPO third month contract price fell by 3.5% and reached at 1,972 MYR/ton level on yesterday. Along with weak fundamental, Brent Crude Oil prices which declined over 8% last week, which is also keeping CPO/ veg oils prices under pressure.

According to data by AmSpec Agri Malaysia, export of Malaysian palm oil during Nov 1-25 fell 5.2% on month to 1.04 million ton. Inventories in Malaysia was reported to have risen at multi-year high in October following higher production and weak exports. However, export is not picking up and inventories in November month might even increase further.

SPPOMA pegged 1-25 November 18 Yield is down by 4.57%, oil ratio is down by 0.04% and total production down by 4.78%

A sharp fall was averted as the Indonesian government has temporarily lift an export levy on palm oil products due to a fall in international prices of the commodity.