Datetime: 2022-12-08 11:43:49 Visit: 0
(Kuala Lumpur, July 3) The original palm oil futures price rose 5.4% today to RM3994 per metric ton, reaching its highest level since March 15.
The recent US planting area report showed that the soybean planting area was lower than expected, which made the price of Soybean oil rise 7.3% on last Friday (July 30).
Balamalingan, director of Pelindung Bestari, pointed out that the soybean planting area was lower than expected, the production of Malaysian palm oil slowed down in June, the geopolitical situation was tense, which is expected to drive the price of palm oil.
In addition, he stated that as the RM weakens, the rise in palm oil prices will have more support. "The decrease in soybean supply means that the supply of Soybean oil is tightening, which will shift the demand to palm oil. He said.
Oil palm trees are the woody oil plants with the highest yield per unit area in the world. Their main product, palm oil, can yield up to 200kg per mu, which is 5-6 times the oil yield of peanuts and 10 times the oil yield of soybeans.
The traditional meaning of palm oil refers to palm kernel oil obtained by pressing the flesh of palm fruits, which is different from palm kernel oil obtained by pressing the kernels. The following are the palm fruit oil and palm kernel oil pressing process.
Palm fruit oil:
Palm fruit branch--Sterilization--Palm Fruit Threshing--Palm fruit oil press--Crude oil--Filtering--Refining--Finished oil
Palm kernel oil:
Palm kernel shelling--Palm kernel crushing--Roaster--Oil press--Filtering--Refining--Finished oil
