Platts publishes Jan. 13 Asia Palm Oil Daily Commentary

Platts, a part of S&P Global Commodity Insights, publishes Jan. 13 Asia Palm Oil Daily Commentary on Jan. 16 to DG.

The commentary is as follows:

Cash Indonesian palm prices in Asia slipped further Jan. 13, as concerns over waning demand weighed on sentiment.

"Buyers in China are well-stocked this month and also next month, there's no more demand rush these days," a trader said, adding that there was also no surge in India's appetite so far this month.

Spot discussions also weakened in tandem with losses in Bursa CPO futures. The CPO price loading in January from Indonesia saw offers slip to $920/mt Jan. 13, versus bids at $910/mt and below. While the February loading price discussions were heard at $910-$930/mt.

In the CFR west coast India market, sellers emerged Jan. 13 at lower levels of around $980/mt for January loading and $990/mt for February loading.

Palm oil byproduct buying interest for January loading palm fatty acid distillate has been lackluster, resulting in weaker bid-offer levels. January loading was offered around $680/mt, against bids at and below $670/mt.

Cargo surveyor ITS is expected to release Indonesia's export data for December early next week. Indonesia's exports will probably show a decline in December after it increased export taxes, limiting shipments to overseas buyers and coupled with lower year-end production cycle.

Platts is part of S&P Global Commodity Insights.