Archived News

19/09/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures extended gains to a second consecutive session onThursday, underpinned by firmer soyoil prices and production concerns in the world's second-biggest producer.

19/09/2024 (Reuters), Jakarta - The world's biggest palm oil exporter Indonesia will introduce a new set of monthly levies in a bid to improve competitiveness against rival edible oils, a regulation published on Thursday by its finance ministry showed.

19/09/2024 (Reuters), Mumbai - Indonesia's palm oil exports are expected to decline in 2024 due to increased domestic consumption because of a higher biodiesel blending mandate and a slight decrease in production, an industry official told Reuters on Thursday.

19/09/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Thursday due to worries over weaker production of the commodity that might affect its supply, said a trader.

19/09/2024 (Bernama), Kuala Lumpur - The Oil Palm Smallholder Replanting Incentive Financing Scheme 2.0 (TSPKS 2.0), introduced by the government through the Malaysian Palm Oil Board (MPOB) and Bank Pertanian Malaysia Bhd (Agrobank) earlier this year, has received 2,384 applications, covering 6,723.88 hectares to date.

19/09/2024 (Business Today) - The Malaysian Palm Oil Council has urged the European Commission to delay the implementation of the EU Deforestation Regulation (EUDR) with the deadline of implementation set for30th December 2024.

19/09/2024 (Barchart) - Soybean futures are posting 1 to 2 cent gains so far on Thursday with solid export bookings is this morning’s report. CmdtyView’s national front month Cash Bean price is up 1 ¼ cents at $9.54 3/4. Front month Soymeal futures are up $1.40/ton. Soy Oil futures are up 88 points so far on the day.

18/09/2024 (New Straits Times), Kuala Lumpur - Palm oil prices are expected to remain steady at RM 3,850 this month, despite approaching peak production season, according to the Malaysian Palm Oil Council (MPOC).

18/09/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives snapped a three-day losing streak to end higher on Wednesday as the market expects a resumption of vegetable oil demand from India for the upcoming festive season, said a trader.

18/09/2024 (The Edge Malaysia), Kuala Lumpur - Analysts predict a price correction for crude palm oil (CPO) in the fourth quarter of this year (4Q2024), primarily due to India's recent decision to raise import taxes on edible oils and the upcoming peak production season, especially in Indonesia.

18/09/2024 (Reuters), Mumbai - India's edible oil consumption is set to grow at a pace of 2%-3% as cooking oils remain affordable despite an import duty hike, a leading importer told Reuters on Wednesday.

18/09/2024 (Business Line) - Indonesia, one of the largest exporters of palm oil, plans to cut export duty on palm oil early next month to support its farmers amid drop in demand.