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2026-02-13 18:26:30
[Palm Oil Rebounds After Falling, Bargain Buying Relieves Ringgit Pressure] ⑴ Palm oil prices rose on Friday, erasing earlier losses. Kenanga Futures noted in a report that bargain hunting before the weekend likely mitigated downward pressure after recent price declines. ⑵ However, the firm stated that concerns about demand uncertainty in the coming months, coupled with a stronger ringgit, continued to weigh on market sentiment. The April contract on the Bursa Malaysia Derivatives Exchange ultimately rose 13 ringgit to 4,050 ringgit per tonne. ⑶ From a trading psychology perspective, short-term funds chose to cover at key price levels, indicating limited market expectations for further sharp declines; however, upward pressure remains due to dual uncertainties on both the exchange rate and demand sides. ⑷ The focus going forward will be on the subsequent purchasing pace of major importing countries and whether the ringgit exchange rate will show marginal changes, thereby providing more sustained upward momentum for prices.
