{"id":247964,"date":"2022-03-06T08:12:48","date_gmt":"2022-03-06T03:12:48","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=247964"},"modified":"2022-03-06T08:12:48","modified_gmt":"2022-03-06T03:12:48","slug":"palm-drops-over-5-but-set-for-best-weekly-gain-in-five-months","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/palm-drops-over-5-but-set-for-best-weekly-gain-in-five-months\/","title":{"rendered":"Palm drops over 5% but set for best weekly gain in five months"},"content":{"rendered":"<p> Malaysia<br \/>\nMalaysian palm oil futures fell more than 5% on Friday but were set for their biggest weekly gain since October on concerns over disrupted sunflower oil supply from the Black Sea region due to Russia\u2019s invasion of Ukraine.<br \/>\nThe benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange fell 353 ringgit, or 5.19%, to 6,455 ringgit ($1,543.15) a tonne in early trade, after declining 2.34% overnight. For the week, it has gained 8.3% so far in what would be its second straight weekly rise.<br \/>\nFUNDAMENTALS<br \/>\n* The world\u2019s biggest palm oil buyers China and India are slowing down imports as prices rocket to historical high levels, even as the Russia-Ukraine crisis squeezed global edible oil supply, industry officials said in a UOB Kay Hian conference on Thursday.<br \/>\n* U.S. President Joe Biden\u2019s administration is studying whether waiving biofuel blending mandates could help offset a surge in prices for key food ingredients like corn and soy oil following Russia\u2019s invasion of Ukraine, two sources familiar with the matter said.<br \/>\n* Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.<br \/>\nMARKET NEWS<br \/>\n* Asian shares took a beating and oil prices jumped as a report of a nuclear power plant on fire amid continued fierce fighting between Ukraine and Russian troops further unnerved investors. MKTS\/GLOB<br \/>\n* Oil prices rebounded as the disruption of Russian oil exports because of western sanctions outweighed the prospect of more Iranian supplies from a possible nuclear deal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Malaysia Malaysian palm oil futures fell more than 5% on Friday but were set for their biggest weekly gain since October on concerns over disrupted sunflower oil supply from the Black Sea region due to Russia\u2019s invasion of Ukraine. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange fell [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-247964","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Palm drops over 5% but set for best weekly gain in five months<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/palm-drops-over-5-but-set-for-best-weekly-gain-in-five-months\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Palm drops over 5% but set for best weekly gain in five months\" \/>\n<meta property=\"og:description\" content=\"Malaysia Malaysian palm oil futures fell more than 5% on Friday but were set for their biggest weekly gain since October on concerns over disrupted sunflower oil supply from the Black Sea region due to Russia\u2019s invasion of Ukraine. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange fell [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/palm-drops-over-5-but-set-for-best-weekly-gain-in-five-months\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-06T03:12:48+00:00\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script 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