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KLK is proposing to buy Elementis Specialities Netherlands BV (ESN) in Delden, the Netherlands, for 39mil (RM187.2mil). ESN, which is primarily involved in surfactant manufacturing, is expected to strengthen KLK’s downstream chemical specialties business in Europe.

KUALA LUMPUR: Malaysian palm oil futures notched up their biggest daily gain in nearly five months on Friday, rising over 2 percent on a technical rebound and expectations that production will decline this month.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday Dec 15

Malaysia, the world's second-largest palm oil producer after Indonesia, will lower its crude palm oil export tax to 5.5% in January, from 6% in December, a government circular said on Friday.

India's palm oil imports dropped nearly 11 percent in November from a year ago to the lowest level in eight months, a trade body said on Thursday, as refiners curtailed purchases due to a hike in import tax.

Malaysia-China bilateral trade reached RM237.96 billion for the first 10 months of this year, up 24.1 percent from RM191.65 billion in the same period last year.

The demand for palm oil is likely to stay weak in December despite a recent slide in prices, according to traders in world No. 2 producer Malaysia, although exports from the country are seen to rebound in January as China stocks up ahead of the Lunar New Year

Palm oil on the European vegetable oils market was offered mostly easier on Thursday, mainly tracking weaker Malaysian palm oil futures on concerns over lagging demand and rising stockpiles.

Benchmark prices for the commodity, used to help make products ranging from instant noodles and chocolate to soap, have dropped about 12 percent since the start of November, standing around 2,430 ringgit ($596) on Thursday

The Plantation Owners Forum of Nigeria, the National Palm Produce Association of Nigeria and the Oil Palm Growers Association of Nigeria, have called on the Nigeria Customs Service to address the issue of illegal importation of palm oil into Nigeria.

Malaysian palm oil futures hit a 16-month low on Thursday, weighed down by low demand and high stockpiles, as well as weakness in edible oils on China's Dalian Commodity Exchange.

PETALING JAYA: Plantation stocks continue to attract a neutral rating from analysts, who see limited downside to crude palm oil (CPO) prices in the near future despite rising inventory levels and weaker exports.