Tropical insights

Core tip: According to SeafoodNews, despite the success of Vietnam's basa fish in the global seafood market, earning the title of "export king" and generating billions of dollars in revenue annually, it still struggles to win over local consumers, with domestic consumption of basa fish accounting for only 5%-7% of total production.

Malaysian palm oil futures slipped on Monday, as concerns that recent high prices may dampen future demand weighed on the market. The benchmark palm oil contract FCPO1! for November delivery on the Bursa Malaysia Derivatives Exchange fell 36 ringgit, or 0.79%, to 4,493 ringgit ($1,068.49) a metric ton at the close. The contract rose 1.55% in the previous session. Crude palm oil futures traded lower, retracing some of last week’s gains, as recent high prices may curb future demand, said David Ng, a proprietary trader at Kuala Lumpur-based trading firm Iceberg X Sdn Bhd. “A narrowing spread between soybean oil and palm oil also makes palm oil less competitive. We see support at 4,450 ringgit and resistance at 4,600 ringgit,” he added. Dalian’s most-active soyoil contract (DBYcv1) rose 0.57%, while its palm oil contract CPO1! added 0.38%. Soyoil prices on the Chicago Board of Trade ZL1! were down 0.22%. Palm oil tracks price movements of rival edible oils, as it competes for a share ...

Malaysia’s palm oil industry is expected to stay bullish in the near term, supported by stronger exports and easing inventories, Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said. Sathia said crude palm oil (CPO) prices are likely to remain high, trading between RM4,200 and RM4,500 per tonne, driven by global trade uncertainties and unclear