Rapeseed: palm oil production in Malaysia declines slightly

January 6, 2020 at 2:46 PM , Der AUDITOR
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HAMBURG. The rapeseed and canola market declined slightly after profit-taking in Winnipeg and Paris. International tensions in the Middle East following a targeted US air strike against Iranian General Qassem Suleimani caused uncertainty on the markets due to announced retaliatory measures. Malaysian palm oil production in 2019 is probably lower than expected. This at least supported the Western European rapeseed market.

The canola and rapeseed market declined again after the prices rose at first. Canola was quoted at CAD 469.60 per metric tonne at the ICE, almost CAD 2.00 lower than last Friday. Rapeseed is at a level of EUR 414.00 per metric tonne in Paris, more than 25 cents lower. Profit-taking in Winnipeg and also Paris caused price losses, after international tensions in the Middle East following a targeted US air strike against Iranian General Qassem Suleimani provided a welcome opportunity for a series of profit-taking, according to the trade. Brazil's high soybean harvest is also putting

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