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PETALING JAYA: Crude palm oil (CPO) prices may have hit the bottom, as the commodity has been trending between the RM2,350 and RM2,550 per tonne range in the past six months, say analysts.

PARIS: Dozens of French farmers blocked access to 13 refineries across the country today to protest against plans to import palm oil for use in biofuels, a move they denounce as unfair competition which jeopardises their livelihood.

SINGAPORE (June 11): Crude palm oil prices may have hit a bottom, as risk seems limited after the significant decline from Feb 17, UOB Kay Hian analysts led by Leow Huey Chuen write in note.

Malaysian palm oil futures on the Bursa Malaysia Derivatives ended lower on Monday, but recovered after the MPOB data release. The country’s palm oil stockpiles at the end of May declined 0.5 per cent from the previous month to 2.17 million tonnes (mt), industry regulator Malaysian Palm Oil Board (MPOB) said. Output in Malaysia, the world’s second largest palm oil producer, last month fell 2.1 per cent to 1.53 mt, while exports also dropped 15.65 per cent to 1.29 mt.

KUALA LUMPUR: Total palm oil stocks fell 0.51 per cent in May 2018 to 2.17 million tonnes from 2.18 million tonnes recorded in preceding April.

French farmers began a blockade of oil refineries and fuel depots on Sunday evening over plans by Total (TOTF.PA) to use imported palm oil at a biofuel plant, which have fanned farmer discontent over unfair competition. The Vatry fuel depot in the Marne region of northeastern France was the first to be blocked on Sunday evening as about 100 farmers set up barricades with tractors and mounds of rubble, a spokesman from the FNSEA farmers union told Reuters.

PETALING JAYA: Global palm oil prices are expected to enter a bullish environment post 2021 due to a projected decrease in production from the two largest global producers – Indonesia and Malaysia – from 2022 to 2025.

THE world’s largest crude palm oil (CPO) producer, Felda Global Ventures Holdings Bhd image: https://cdn.thestar.com.my/Themes/img/chart.png (FGV), may be a takeover target.

New European Parliament legislation bans palm oil imports for biofuel use by 2020, a move Jakarta sees as discriminatory and promises to retaliate

The groundbreaking of 3,000-hectare (ha) oil palm plantation and processing plant owned by Norsworthy Farms, has taken place at Akwukwu-Igbo, Delta State.In his speech at the ceremony, Ogbechie hinted that the country currently consumes an estimated 2.7m metric tonnes of palm oil with estimated demand-supply gap ranging from one million mt to 1.7million, noting that with the shortfall, there is room for additional investment.

NEW DELHI: Malaysian palm oil futures extended falls into a fourth session on Thursday and hit their lowest in one month on continued concerns about weak demand outlook, while declines in Chicago soybeans weighed on the market as well.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 8.