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POAS Daily Highlights 22 Apr 2020

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Email: enquiries@poaos.org

POAS Daily Highlights 22 Apr 2020

Palm Oil Association

of Singapore

Main Contract on Global Palm Oil markets

21/04/2020 Close Price Change (%) Volume Open Interest

APEX CRUDE PALM OIL Jul 20 495.00 -6.34% 4345 1340

BMD CRUDE PALM OIL Jul 20 470.29 -7.80% 43455 42264

DCE PALM OLEIN Sep 20 630.36 -4.63% 1020156 340085

MCX CRUDE PALM OIL Apr 20 828.76 -4.44% 608 2639

FX Markets

FX Close Previous Day Close Change (%) 10 Day Chart

USD INDEX 100.2200 99.9600 0.26% . CNY/MYR 0.6182 0.6182 0.00% USD/MYR 4.3930 4.3720 0.48% USD/CNY 7.0914 7.0721 0.27% USD/INDIAN RUPEE 76.9700 76.5700 0.52% USD/INDO RUPIAH 15400.0000 15375.0000 0.16%

Price Comparison: APEX CPF vs BMD FCPO

Contract Month APEX CPF

(DSP) BMD FCPO in USD (EOD)* Absolute Difference % Difference Jun-20 513.50 478.03 35.47 6.91% Jul-20 495.00 472.80 22.20 4.49% Aug-20 492.75 470.29 22.46 4.56% Sep-20 492.50 468.02 24.48 4.97% Oct-20 493.25 466.88 26.37 5.35% Nov-20 528.00 469.84 58.16 11.02%

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Palm Oil Markets Analysis

24.71 470.29 495 -20 -10 0 10 20 30 40 300 350 400 450 500 550 600 (Unit:USD/MT)

APEX CPF vs BMD FCPO 30 Day Spread

APEX-BMD Differential BMD FCPO Active Month APEX CPO Active Month

-20 -10 0 10 20 30 40 50 450 470 490 510 530 550 2 1 /4 /2 0 2 0 1 8 :0 0 2 1/ 4/ 20 2 0 1 6 :5 0 2 1 /4 /2 0 2 0 1 5 :4 0 2 1 /4 /2 0 2 0 1 4 :2 5 2 1 /4 /2 0 2 0 1 1 :4 5 2 1 /4 /2 0 2 0 1 0 :3 5 2 0 /4 /2 0 2 0 1 8 :0 0 2 0 /4 /2 0 2 0 1 6 :5 0 2 0 /4 /2 0 2 0 1 5 :4 0 2 0/ 4/ 20 2 0 1 4 :3 0 2 0 /4 /2 0 2 0 1 2 :2 0 2 0 /4 /2 0 2 0 1 1 :1 0 2 0 /4 /2 0 2 0 9 :1 5 1 7 /4 /2 0 2 0 1 6 :5 5 1 7 /4 /2 0 2 0 1 5 :4 5 1 7 /4 /2 0 2 0 1 4 :3 5 1 7 /4 /2 0 2 0 1 2 :1 0 1 7/ 4/ 20 2 0 1 1 :0 0 1 7 /4 /2 0 2 0 9 :4 5 1 6 /4 /2 0 2 0 1 7 :0 5 1 6 /4 /2 0 2 0 1 5 :5 5 1 6 /4 /2 0 2 0 1 4 :4 5 1 6 /4 /2 0 2 0 1 2 :0 5 1 6 /4 /2 0 2 0 1 0 :5 5 1 5 /4 /2 0 2 0 1 7 :5 5 1 5/ 4/ 20 2 0 1 6 :4 5 1 5 /4 /2 0 2 0 1 5 :3 5 1 5 /4 /2 0 2 0 1 4 :2 5 1 5 /4 /2 0 2 0 1 2 :0 5 (Unit:USD/MT)

APEX CPF vs BMD FCPO 5 Day Spread

APEX-BMD Differential BMD FCPO Active Month APEX CPO Active Month

-65.19 495 560.19 -90 -70 -50 -30 -10 10 30 50 200 250 300 350 400 450 500 550 600 650 (Unit:USD/MT)

APEX CPF vs CME Soybean Oil 30 Day Spread

APEX-Soybean Oil Differential APEX CPO Active Month CME BO Active Month

-135.36 495 630.36 -200 -150 -100 -50 0 50 100 150 100 200 300 400 500 600 700 800 (Unit:USD/MT)

APEX CPF vs DCE Palm 30 Day Spread

APEX-DCE Palm Olein Differential APEX CPO Active Month DCE DCP Active Month

281.75 495 213.25 0 100 200 300 400 500 600 700 (Unit:USD/MT)

APEX CPF vs ICE LGO 30 Day Spread

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Palm Oil (Indonesia): FOB Belawan/Dumai 553.75 Change (USD/MT) -23.75 Change (%) -4.11% 5 days average 574.50 20 days average 577.81 1 year average 565.88 year high 810.00 year low 452.50

Palm Olein (Malaysia):

CNF South China 594.00 Change (USD/MT) -5.00 Change (%) -0.83% 5 days average 598.60 20 days average 614.45 1 year average 617.48 year high 824.00 year low 519.00

Palm Olein (Malaysia):

FOB PKPG 567.50 Change (USD/MT) -5.00 Change (%) -0.87% 5 days average 572.00 20 days average 587.63 1 year average 590.63 year high 797.50 year low 492.50 Palm Olein Guangdong 4830 Change (RMB/MT) 100 Change (%) 2.11% 5 days average 4742 20 days average 4857 1 year average 5002 year high 6730 year low 4220

The data sets in this document were obtained from publicly available sources. 553.75 594 567.5 400 500 600 700 800 (Unit:USD/MT)

Palm Oil Price Comparison

Palm Oil (Indonesia): FOB Belawan/Dumai Palm Olein (Malaysia): CNF South China Palm Olein (Malaysia): FOB PKPG

4830 4000 4500 5000 5500 6000 6500 7000 (Unit:CNY/MT)

Spot Price: Palm Olein (24 degree) Guangdong

-74.62 -800 -600 -400 -200 0 200 400

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

(Unit:CNY/MT)

Guangdong Palm Olein (24 degree) Spot vs Palm Olein (Malaysia): CNF South China Profit Comparison

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Sector Updates:

Malaysia

‘Quiet’ Ramadan to hit palm oil exports.The palm oil market is set to miss out on a key high-demand period in 2020 as coronavirus-driven lockdowns during Ramadan dent demand in key importing countries such as India, Pakistan and Bangladesh. Lower-than-normal demand could put pressure on Malaysia’s benchmark crude palm oil prices, which have already fallen nearly 30% since Jan 23. That is when China, the second-largest global palm consumer, enacted the world’s first coronavirus-related

lockdown. (Source:Free Malaysia Today)

Indonesia

Indonesia's February palm oil exports down 12% y/y.Indonesia’s exports of palm oil and its refined products, including oleochemicals and biodiesel, were at 2.54 million tonnes in February, Indonesia Palm Oil Association (GAPKI) said in a statement on Tuesday.That compared to 2.88 million tonnes exports in Febuary last year. Exports to major market China were lower, “likely due to COVID-19 outbreak”, GAPKI said. GAPKI data showed palm oil stockpile stood at 4.08 million tonnes by the end

of February, down from 4.54 million tonnes level at the end of January. (Source:Reuters)

US

Global oil prices could 'chase' US crude below $0 if demand for fuel doesn't pick up, analysts fear.

On Tuesday morning, West Texas Intermediate (WTI) crude was at around $-4 per barrel, well above the bottom of $-40 per barrel on Monday, but still floating in unprecedented territory."If global storage worsens more quickly, Brent could chase WTI down to the bottom," Citi analysts told the Financial Times. They added that WTI would remain volatile thanks to the continued difficulty of

storage for US oil. (Source:Business Insider)

Company Updates:

Bunge to sell 35 U.S. grain elevators to Zen-Noh Grain. Agricultural commodities trader Bunge Ltd said on Tuesday it will sell 35 of its interior U.S. grain elevators to Zen-Noh Grain Corporation,

dramatically reducing its grain origination network in the United States. Financial details of the sale with the subsidiary of Japan’s Zen-Noh Group were not disclosed, and the deal is subject to

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Soy Oil & Palm Oil Market Size, Key Trends, Challenges and Standardization, Research, Key

Players, Economic Impact and Forecast to 2026T Astra Agro Lestari Tbk, Wilmar International,

Malaysian Palm Oil Council (MPOC)

Complete study of the global Soy Oil & Palm Oil market is carried out by the analysts in this report, taking into consideration key factors like drivers, challenges, recent trends, opportunities, advancements, and competitive landscape.

This report offers a clear understanding of the present as well as future scenario of the global Soy Oil & Palm Oil industry. Research techniques like PESTLE and Porter’s Five Forces analysis have been deployed by the researchers. They have also provided accurate data on Soy Oil & Palm Oil production, capacity, price, cost, margin, and revenue to help the players gain a clear understanding into the overall existing and future market situation.

Key questions answered in the report:

 What is the growth potential of the Soy Oil & Palm Oil market?

 Which product segment will grab a lion’s share?

Which regional market will emerge as a frontrunner in coming years?

 Which application segment will grow at a robust rate?

 What are the growth opportunities that may emerge in Soy Oil & Palm Oil industry in the

years to come?

 What are the key challenges that the global Soy Oil & Palm Oil market may face in future?

 Which are the leading companies in the global Soy Oil & Palm Oil market?

 Which are the key trends positively impacting the market growth?

 Which are the growth strategies considered by the players to sustain hold in the global Soy Oil

& Palm Oil market? (Source:QY Research)

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Disclaimers:

The information and/or materials have been procured from sources which are believed to be reliable and accurate and are provided “as is” without warranty of any kind regarding reliability and accuracy or fitness for a purpose, either express or implied. They are provided solely for general information only and are not intended and should not be taken as any offer or solicitation to do any investment or trade.

The Palm Oil Association of Singapore (“POAS”) is not an entity governed by nor licensed under the Financial Advisors Act and no assessment has been made by the POAS on the suitability of the materials for you and the materials provided herein do not take into account suitability of the investments for you, nor does it constitute investment or trading advice. All trades and/or investments are subject to investment and trading risks including possible margin calls. The value of the product and the income from them may fall as well as rise. Ideally, you should and you may wish to seek advice from an independent financial adviser before making a commitment to purchase or invest in the investment product(s) mentioned either in this e-mail. In the event that you choose not to do so, you are then choosing to make your own decision on whether any of the said investment product(s) are suitable for you. The POAS shall not, in any event, be liable to you for any direct/indirect or any other damages of any kind arising from or in connection with your reliance on any information in and/or materials contained in this email.

Palm Oil Association of Singapore

12 Marina Blvd, #22-04 MBFC Tower 3, Singapore 018982 Phone: +65 6914 2859

References

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