Archived News

KUALA LUMPUR (June 21): Kuala Lumpur Kepong Bhd (KLK), PPB Group Bhd and Genting Plantations Bhd were among the plantation heavyweights that saw a rebound in today's trade after a decline seen in recent trading weeks.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday June 21.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange edged down 0.04 percent to 2,262 ringgit ($564.94) per tonne at the end of the trading day, near the previous session's two-year low.

Palm oil may break a resistance at 2,275 ringgit and bounce more to 2,290 ringgit per tonne, as suggested by a projection analysis and a falling channel.

Crude palm oil prices rose 0.51 per cent to Rs 629.20 per 10 kg in futures trade today as speculators enlarged their positions amid firm demand at the spot market.

New Delhi, Jun 20 () Palmolein oil prices declined by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market today on easing demand.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 20.

MANILA/BEIJING: Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy.

KUALA LUMPUR: Malaysian palm oil futures slumped as much as 3 percent on Tuesday evening to their lowest in two years, tracking weakness in related edible oils.

KUALA LUMPUR: Palm oil for September delivery drops as much as 2.3% to RM2,253 a tonne on Bursa Malaysia Derivatives, lowest intraday level for most-active contract since July 2016.

Indonesia and Malaysia together account for nearly 85% of global palm oil production. This oil is commonly used in processed foods, cosmetics and biofuels, and while it is inexpensive, the environmental and social costs are high. Each year, thousands of hectares of rainforest disappear in order to meet the growing demand for the oil worldwide. In 2012, Indonesia had the highest deforestation rate in the world, according to a study published in 2014 in Nature Climate Change.

A study by Zurich's EPFL university and the Swiss Federal Institute for Forest, Snow and Landscape Research warned Tuesday that intensively farming palm oil detrimentally impacts global rainforests and is also associated with a large carbon footprint.