January 24, 2025 05:24 GMT
MALAYSIA: Country Wrap: Palm Oil Prices Hit Lows
MALAYSIA
- Palm Oil Heads for Four-Month Low on Poor Exports, Weaker Soyoil (source: BBG)
- Malaysian palm oil prices are expected to average around MYR4,000 ($900) per metric tonne in 2025, with a brief spike to MYR4,800 in February, driven by seasonal demand, according to industry analyst Dorab Mistry, Reuters reported. This forecast reflects growing competition from soy oil and changing global market dynamics. (source: BBG)
- Malaysia’s FTSE Malay KLCI is finishing the weak on a softer note, down -0.26% but to finish +0.40% for the week.
- MYR: the ringgit had a good day gaining +0.88% and on track to finish the week over 2% better.
- Bonds: a strong rally for the end of the week with yields down 3-5bps. MGS 10YR 3.824% (-3bp)
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