Palm oil futures have turned upward, with the latest weekly move highlighting how closely this market is linked to currency shifts, rival oils and energy prices.
The key contract for December edged higher to 4,460 ringgit per tonne, adding 14 ringgit on the day and closing the week up by around 1.3%. The upward move was shaped in part by the weaker ringgit. This tailwind has been amplified by independent surveyor data pointing to stronger shipments in September, with exports up between 7% and 10% from the previous month.
Energy markets have also played their part. A firmer crude oil price continues to underpin palm’s use in biodiesel, giving it an additional source of demand that tracks broader energy dynamics. At the same time, rival oils such as soybean oil have strengthened, reinforcing palm oil’s pricing floor.
Dekel Agri-Vision PLC (LON:DKL) aspires to become a leading agro-industrial company in West Africa, one that creates value for shareholders whilst at all times placing the interests of the local communities and environment in which it operates in at the heart of its operations.
