Export of Malaysian palm oil (Oct 1-10) reported to 345,393 tonnes rose 3.9% from 332,392 tonnes in Sept 1-10, data from cargo surveyor SGS and another cargo surveyor Intertek showing palm export for Oct.1-10 reose 8.27% to 339,195 tonnes from 313,282 tonnes (Sept 1-10). Even though demand from China dipped 15.9% to 98,600 tonnes but export to India increase by 18,4% to 95,600 and export to EU go to 62,800 tonnes (incrase 21%).
The Malaysian Palm Oil Beard reported bearish data from palm oil, Malaysia's palm inventories increase 11.5% to 1.58 million tonnes in Sept that more than trade expected at 0.4% slide to 1.31 million tonnes.
comment : market seem to be weight on good export news than bearish stock data. Malaysian palm oil futures jumped 3.2% to 2,152 ringgit ($631.6) up by 3.2%.
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