* Chinese woes dominate markets, weigh on palm
* Further palm weakness expected in global sell-off
* Palm touches 1,904 ringgit, lowest since March 2009
JAKARTA, Aug 24 - Malaysian palm oil futuresextended earlier losses to fall more than 4 percent on Monday as
the tropical oil tracked other global markets lower on concerns
about the Chinese economy.
The benchmark palm oil contract for November on
the Bursa Malaysia Derivatives Exchange traded 3.5 percent lower
at 1,917 ringgit ($453) a tonne at 0830 GMT.
Palm oil has sunk 10 percent this month and is now trading
at its lowest level in nearly six-and-a-half years.
"It's a bloodbath all over," said a trader with a foreign
commodities brokerage in Kuala Lumpur. "Spillover weakness from
the meltdown in global equities and commodities.
Palm earlier fell to 1,904 ringgit, its lowest level since
March 19, 2009.
Traded volume stood at 39,199 lots of 25 tonnes each, well
above the roughly 35,000 lots usually traded by the close.
Alarm bells rang across world markets as a 9 percent dive in
Chinese shares and a sharp drop in the dollar and major
commodities panicked investors.
Oil prices hit 6-1/2-year lows after Chinese stock markets
suffered their biggest one-day fall since the global financial
crisis, intensifying worries over the outlook for global oil
demand.
In comparative vegetable oils, the U.S. September soyoil
contract was down 3.1 percent, while the most active
soybean oil contract on the Dalian Commodity Exchange
was 4 percent lower.
"Soy oil and crude are both down," said a second palm
trader. "Sentiment is negative - looks like nothing is positive
today."
A weak Malaysian ringgit, which makes palm cheaper
for offshore buyers, offered limited support to palm oil.
"It's a bit oversold so there could be a retracement but the
downward trend is still intact," said a third palm trader,
adding that prices are likely to now breach 1,800 ringgit.
Palm, soy and crude oil prices at 0831 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP5 1848 -65.00 1831 1901 196
MY PALM OIL OCT5 1890 -71.00 1876 1931 5337
MY PALM OIL NOV5 1916 -70.00 1904 1958 18228
CHINA PALM OLEIN JAN6 4276 -178.00 4276 4434 934054
CHINA SOYOIL JAN6 5344 -222.00 5344 5570 1004028
CBOT SOY OIL DEC5 26.82 -14.20 26.78 27.56 11596
INDIA PALM OIL AUG5 365.80 -14.20 364.80 372.20 2406
INDIA SOYOIL OCT5 567.30 -4.65 566.20 569.40 25290
NYMEX CRUDE OCT5 39.21 -1.24 39.00 40.47 44804
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
($1 = 4.2320 ringgit)
($1 = 66.5850 Indian rupees)
($1 = 6.3970 Chinese yuan)
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
29150.00 | + 700 | 29160.00 | + 660 |
ПФО |
27950.00 | + 300 | 28050.00 | + 50 |
СКФО |
28700.00 | + 500 | 28950.00 | - 50 |
ЮФО |
28150.00 | - 200 | 28950.00 | - 50 |
СФО |
28400.00 | - 100 | 28300.00 | - 200 |
Регион | Закуп. | Изм. | Прод. | Изм. |
---|---|---|---|---|
ЦФО |
71000.00 | + 850 | 73250.00 | + 1380 |
ЮФО |
69800.00 | + 200 | 74000.00 | + 3500 |
ПФО |
71000.00 | + 1450 | 73000.00 | + 2950 |
СФО |
72000.00 | + 1800 | 75000.00 | + 4500 |
Обсуждение