欢迎进入欧博www.ALLbetgame.us。欧博官网开放欧博登录网址、欧博开户、欧博代理开户、欧博电脑客户端、欧博手机版下载等业务。

首页社会正文

科学上网电报群:CPO output seen to grow by 2.8% in July compared to June

admin2022-08-259

科学上网电报群www.tg888.vip)是一个Telegram群组分享平台,科学上网电报群内容包括Telegram群组索引、Telegram群组导航、新加坡Telegram群组、Telegram中文群组、Telegram群组(其他)、Telegram 美国 群组、Telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容,为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。

KUALA LUMPUR: Malaysia’s crude palm oil (CPO) output is expected to grow by 2.8 per cent month-on-month (m-o-m) and 4.3 per cent year-on-year (y-o-y) to 1.59 million tonnes in July 2022, said CGS-CIMB Securities Sdn Bhd.

"The m-o-m increase in CPO output was driven by seasonal factors,” it said in a research note today.

As such, Malaysia's palm oil stocks are estimated to rose by 9.8 per cent m-o-m to 1.82 million tonnes as at end-July 2022, mainly due to higher output.

The research firm also estimates Malaysia’s palm oil inventory probably grew by 9.8 per cent m-o-m and 21.4 per cent y-o-y to 1.82 million tonnes as at end-July 2022, its highest level since June 2020, due to higher output.

"Our estimate of 1.82 million tonnes for July’s palm oil stock level is 4.0 per cent below the 10-year historical July average of 1.89 million tonnes,” it said.

Meanwhile, palm oil exports are likely to be higher by 3.6 per cent m-o-m but fell 12.2 per cent y-o-y to 1.24 million tonnes, based on export statistics by cargo surveyors Intertek (+0.8 per cent m-o-m), SGS (+6 per cent) and Amspec Malaysia (+4 per cent m-o-m).

,

皇冠信用盘www.hg108.vip)是皇冠信用盘官方正网线上开放会员开户、代理开户,额度自动充值等业务的直营平台。

,

"The higher m-o-m palm oil exports from Malaysia could be due to slower-than-expected palm oil exports from Indonesia in July as exporters anticipated potential cuts in export tax for Indonesian palm oil from Aug 1," it said.

It was reported that Indonesia has lowered its CPO reference price to US$872 per tonne, effective Aug 1-15, 2022, which would place CPO export duty for the first two weeks of August at US$33 per tonne, while the export levy is waived until Aug 31, 2022.

It said the significantly lower export tax from Aug 1-15 of US$33 per tonne against US$288 per tonne from July 15-30 is likely to boost Indonesia’s export shipments in August compared to July as exporters take advantage of the significant savings in CPO export taxes and levy.

Indonesia has also raised the domestic market obligation and exports ratio to 1:9 versus 1:7 from Aug 1.

"These two factors will likely lead to weaker palm oil exports from Malaysia in August,” it said.

CGS-CIMB expects CPO price to trade in the range of RM4,000 to RM4,500 per tonne as labour shortages, geopolitical risks and weather uncertainties will likely be supportive of CPO prices. - Bernama


转载说明:本文转载自Sunbet。

网友评论

最新评论