Impact of Natural calamities over commodities. Crude Palm oil

Myiris news - News - Impact of Natural calamities over commodities by Geojit: Crude palm oil:

37% of the world supply of crude palm oil is accounted from Indonesia. Both Malaysia and Indonesia`s Free on Board prices are taken as a benchmark in calculating International Crude Palm oil prices. Hence, any such threats are expected to impact export from such countries that might threaten supply. Indian futures contracts of Crude Palm Oil have a direct correlation with Malaysian prices. Crude Palm oil prices have been surging for the last few months on expectations of lower soybean production. In the month of March, exports from Malaysia rose to 4.8% compared to February. Currently, Malaysian palm oil futures are trading near a 13 month high. On NCDEX platform, prices have been on a gush clocking more than 19% since the first week of February.

- Sent using Google Toolbar