Arab Today, arab today palm oil declines amid weakening demand outlook
Last Updated : GMT 22:05:35
Arab Today, arab today
Arab Today, arab today

Palm oil declines amid weakening demand outlook

Arab Today, arab today

Arab Today, arab today Palm oil declines amid weakening demand outlook

Kuala Lumpur - Arabstoday

Palm oil dropped the most in more than six weeks after the Federal Reserve signalled \"significant downside risks\" to the US economy, raising concerns that global demand for commodities may weaken. The December-delivery contract on the Malaysia Derivatives Exchange declined 1.9 per cent to close at 3,009 ringgit per metric ton, the most since August 9. Futures have shed 21 per cent this year. The Fed said on Wednesday it will replace $400 billion of short-term debt in its portfolio with longer-term Treasuries to reduce borrowing costs and counter the rising risk of another recession. A day earlier, the International Monetary Fund cut its global growth forecast and predicted severe repercussions if Europe fails to contain its debt crisis or US policy makers become deadlocked over fiscal plans. \"If the whole economy drops further, it will definitely soften demand somewhat, but I think for edible oil it probably won\'t be that massive,\" said Alvin Tai, an analyst at OSK Holdings Bhd. The spread between palm oil and soybean oil \"is still quite huge, so that would be supportive of prices.\" Soybean oil\'s premium over palm oil widened to $246.27 a tonne yesterday from $244.34 Wednesday. It touched $289.96 a tonne on August 31, the highest since November 2008. This compares with an average of $161.39 this year, according to Bloomberg data. Palm and soybean oils are substitutes in food and fuel uses. Global demand for oilseeds and cooking fats may decline as high prices and the economic uncertainties in the US and Europe hurt consumption, Oil World Executive Director Thomas Mielke told a conference in Jakarta yesterday. Palm oil in Rotterdam will trade at or above $1,000 a tonne, he said. Sime Darby Bhd expects harvests from plantations in Malaysia and Indonesia to climb in the year to June as yields improve, according to group CEO Mohammad Bakke Salleh. Futures may hold at 3,000 ringgit a tonne until the yearend because of their \"significant discount\" to other cooking oils and demand from India ahead of the Diwali festival, he said.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today palm oil declines amid weakening demand outlook Arab Today, arab today palm oil declines amid weakening demand outlook

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims

GMT 18:36 2017 Monday ,20 February

Heavy selling drags Oman shares lower

GMT 06:16 2017 Monday ,20 February

Bank shares lift Tadawul

GMT 13:43 2017 Sunday ,19 February

Local institutional buying lifts Oman shares higher

GMT 15:33 2017 Saturday ,18 February

Lock-up shares worth 39 bln yuan eligible for trade

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday