PALM NEWS MALAYSIAN PALM OIL BOARD Wednesday, 17 Apr 2024

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MARKET DEVELOPMENT  
  17-01-2024

Palm Oil Ends Lower, Breaking Seven-Consecutive Sessions of Gains

On Monday, Malaysian Palm Oil futures faced a downturn, bringing an end to a seven-session winning streak, as concerns about demand in crucial markets exerted downward pressure. Nonetheless, a reduction in producing Palm Oil played a mitigating role in limiting the extent of the losses.

MARKET DEVELOPMENT  
  17-01-2024

VEGOILS-Palm oil gains as India extends lower duty on edible oil imports

KUALA LUMPUR, Jan 16 (Reuters) - Malaysian palm oil futures rose on Tuesday, driven by top importer India's move to allow edible oil imports at a concessional duty for one more year.

WORLD  
  17-01-2024

China’s Q1 soybean imports seen slowing to four-year low as pig herds shrink

China’s once-soaring soybean demand will slow by about a fifth in the first quarter from a year earlier after record slaughter shrank pig herds, pressuring prices ahead of an expected glut of South American beans, analysts and traders said.

WORLD  
  17-01-2024

India to allow edible oil imports at lower duty until March 2025

MUMBAI, Jan 16 (Reuters) - India will extend edible oil imports at a lower duty by another year until March 2025, the government said in a notification issued late on Monday, as the world's biggest vegetable oil importer moves to contain local prices.

LOCAL  
  17-01-2024

In Sarawak, Dayak oil palm planters say willing to pay for NCR land surveys to speed up process

MIRI, Jan 16 — Sarawak Dayak Oil Palm Planters Association (Doppa) members say they are willing to pay for Native Customary Rights (NCR) land surveys to expedite the state government’s efforts and enable the early issuance of perpetuity land titles.

MARKET DEVELOPMENT  
  16-01-2024

Wilmar unit denies involvement in alleged China palm oil fraud

16/01/2024 (New Straits Times) - Singapore's Wilmar International said on Tuesday its Chinese unit Yihai Kerry Arawana Holdings had denied involvement in an alleged China palm oil fraud.

MARKET DEVELOPMENT  
  16-01-2024

OCBC Research revises 2024 CPO price to average RM3,650 per tonne

15/01/2024 (The Star Online), Kuala Lumpur - OCBC Global Markets Research has revised its 2024 crude palm oil (CPO) prices to average RM3,650 per tonne up from the previous estimate of RM3,400.

MARKET DEVELOPMENT  
  16-01-2024

Indonesia's 2024 palm oil exports seen down 4% on year -statement

15/01/2024 (Nasdaq), Jakarta - Indonesian palm oil exports are expected to reach about 29 million metric tons this year, down by roughly 4%, the Indonesia Palm Oil Association (GAPKI) said on Monday.

MARKET DEVELOPMENT  
  16-01-2024

Financial crisis stops pulses, palm oil in ration

16/01/2024 (India Herald) - Chennai: The government has announced that it will discontinue the scheme of providing pulses and palm oil at ration shops due to a severe financial crunch.

MARKET DEVELOPMENT  
  16-01-2024

Dispose used cooking oil properly, Gaya operators told

15/01/2024 (Daily Express), Kota Kinabalu - Food stall owners operating at the Api-Api Night Food Market on Friday and Saturday were reminded to dispose of their used cooking oil in a proper way, without dirtying Gaya Street.

MARKET DEVELOPMENT  
  15-01-2024

CPO futures likely to trade with upward bias next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with an upward bias next week given expectations of a weaker output due to seasonal factors, said palm oil trader David Ng.

WORLD  
  15-01-2024

Top buyer India’s Dec palm oil imports jump to 4-month high

NEW DELHI: India’s palm oil imports surged to their highest in four months in December, driven by increased purchases of refined palmolein due to competitive prices, a leading trade body said on Friday.