Colosseum a.s. (Colosseum a.s.)
Commodities  |  March 06, 2013 15:18:28

Supplies of palm oil this year will rise to a record 7.203 million tonnes

ColosseumWeakening noted in yesterday's trading session on the exchange Malaysia Derivatives Exchange most active May futures contract for palm oil. The aforementioned decrease responded to speculation by which rising global oil supplies, such as soy, reduce the demand for palm oil and conversely increase its reserves in the country's largest producers. According to the latest U.S. Department of Agriculture estimated increase in global stocks this season palm oil to a record 7.203 million tonnes. Last year, when stocks of palm oil reached a new record, dropping the price of that futures contract by 26%. Palm oil futures on the May delivery date weakened in yesterday's trading session on the stock exchange in Kuala Lumpur by 0.6% to the closing price of 2399 ringitů (773 USD) per metric ton. In the previous week, losing most active futures contract already 6.6%.

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Zásoby palmového oleje letos vzrostou na rekordních 7,203 miliónů tun

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