Archived News

PETALING JAYA: The Malaysian Palm Oil Council (MPOC) does not foresee any downturn in China's purchase of palm oil from Malaysia.

PETALING JAYA (June 19): The Malaysian Palm Oil Council (MPOC) is elated on the latest development in the European Union (EU) which deferred the proposed total ban on palm biofuel to 2030 from the earlier date of 2021.

BL Research Bureau The uptrend in Crude Palm Oil (CPO) prices that has been in place since last August, seems to be losing momentum. The CPO futures contract on the Multi Commodity Exchange (MCX) made a high of ₹673 per 10 kg on May 22, and has come off from there.

New Delhi, Jun 19 () Crude palm oil prices fell by another 1.06 per cent to Rs 630.60 per 10 kg in futures trade today as speculators engaged in cutting down their bets, tracking a weak trend overseas and low demand at the domestic spot markets.

KUALA LUMPUR: Malaysian palm oil futures saw their sharpest decline in a week at the close of trade on Monday evening, on the back of weaker export demand and a fall in crude oil prices.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 19.

Since coming to office, Malaysia’s new prime minister Mahathir Mohamad has been impressively active, regardless of the fact that he is the world’s oldest head of government at 92.

KUALA LUMPUR: Bilateral trade between Malaysia and China is expected to exceed US$100 billion (RM399.75 billion) this year, higher than the US$96 billion chalked up in 2017, said China's ambassador to Malaysia, Bai Tian.

PEKAN: Former Prime Minister Datuk Seri Najib Razak has urged the government to take steps to resolve the price and demand of palm oil immediately.

BRUSSELS (June 14): EU negotiators on Thursday agreed to phase out the use of palm oil in transport fuels from 2030, setting up a clash with producer countries such as Malaysia and Indonesia.

SINGAPORE (June 18): Palm oil may revisit its June 13 low of RM2,300 per tonne, as a bounce from this level could have completed.

Malaysian palm oil futures, which ended lower on Monday, saw their sharpest decline in a week at the close of trade , on the back of weaker export demand and a fall in crude oil prices. Palm oil prices are impacted by movements in the energy market, as it is used as feedstock to make biodiesel. Oil prices fell on Monday after China threatened duties on American crude imports and ahead of an OPEC meeting, though US Brent crude recovered its losses to gain later in the day. India last week raised import taxes on crude and refined soyoil, sunflower oil and canola oil to the highest level in over a decade in a bid to support local farmers. The hike is expected to increase palm oil demand in the coming months by making it more competitive and level playing field in the Indian market. Malaysian shipments of the edible oil in the first half of June declined 7.2 percent versus the corresponding period in May, inspection company AmSpec Agri Malaysia said on Monday. Cargo surveyor Societe Generale de Surveillance reported on Monday evening that Malaysian palm oil exports declined 9.6 percent in the same duration.