Archived News

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Jan 24.

KUALA LUMPUR: Malaysian palm oil futures rose more than 1 percent in afternoon trade on Tuesday, rebounding from a sharp decline earlier in the session, lifted by bullish sentiment on falling production.

JAKARTA/KUALA LUMPUR • Indonesia and Malaysia, which together produce nearly 90 per cent of the world's palm oil, are reeling from a decision by the European Parliament last week to ban the use of the commodity in motor fuels from 2021 to prevent deforestation and meet Europe's more ambitious climate goals.

New proposed rules from the European Union restricting the import of palm oil would likely affect Cambodia’s nascent palm oil sector, but the country’s main exporter is hoping that demand from India and China will cushion the blow.

Indonesia, the world’s largest palm oil producer, should understandably be outraged by the European Parliament’s approval last week of the draft measures to ban the use of palm oil in biofuels in 2021. First, 40 percent of the country’s 11 million hectares of oil palm plantations are owned by smallholders, the industry directly employs almost 6 million workers and annually generates US$20 billion in export earnings.

SINGAPORE (Jan 24): The palm oil third-month contract may test a resistance at 2,519 ringgit per tonne, a break above which could lead to a gain to the next resistance at 2,555 ringgit.

The National Palm Produce Association of Nigeria (NPPAN), Ondo State chapter, has raised the alarm that unrestricted and illegal importation of crude palm oil into the country from neighbouring African countries poses great threat to the nation’s economy.

The National Palm Produce Association of Nigeria (NPPAN) has raised the alarm that owners of palm oil plantation would soon be sent out of business unless the federal government stops unrestricted legal and illegal entry of cheap crude palm oil into the country.

New Delhi, Jan 23 (PTI) Crude palm oil prices eased by 0.13 per cent to Rs 553.10 per 10 kgs in futures market today as participants reduced exposure amid subdued demand at the spot market.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday Jan 22.

THE worst fear among the palm oil fraternity was brought to life this week.

KUALA LUMPUR: China's appetite for palm oil heading into the Lunar New Year holiday may be lower than expected as plentiful supplies of rival edible oils curb consumption ahead of its largest festive celebration, traders and analysts said.