Archived News

CAIRO, NNC - Efforts to improve trade relations and export performance continue to be intensified by the Ministry of Commerce through the Directorate General of National Export Development (Ditjen PEN).

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Dec 6.

KUALA LUMPUR: Malaysian palm oil futures reached their lowest level in more than four months on Tuesday as the ringgit strengthened, making the tropical oil more expensive for holders of foreign currencies.

Malaysian November palm oil inventories may have grown by 14% month on month to 2.5 million mt, driven by higher crude palm oil production in Sabah and peninsular Malaysia and lower import demand from destination markets like India, China and the EU, predicted the latest palm oil forecast from Malaysia's CIMB Bank.

KUALA LUMPUR (Dec 5): Felda Global Ventures Holdings Bhd (FGV) expects to obtain the first Roundtable on Sustainable Palm Oil (RSPO) certification for eight of its palm oil mill complexes before the end of 2017.

New Delhi, Dec 5 Crude palm oil prices fell 0.72 per cent to Rs 576.30 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at spot market.

AFTER a two-year dividend drought, integrated palm oil producer Kwantas Corp Bhd may declare a payout this time around if it is successful in improving its financial health over the coming months.

SINGAPORE (Dec 5): The palm oil third-month contract may fall into a range of 2,519 ringgit to 2,555 ringgit per tonne, as suggested by its wave pattern and a Fibonacci projection analysis.

State-owned plantation holding company PTPN III has established a cooking oil factory that will process palm oil produced by the company, said PTPN III corporate secretary Furqan Tanzala as reported by kontan.co.id on Monday

Maintain a neutral stance. Findings from a survey of 22 plantation areas by the CIMB Futures team revealed that Malaysian crude palm oil (CPO) output likely grew by 1% month-on-month (m-o-m) to 2.03 million tonnes in Nov 2017. Palm oil exports likely fell by about 6.4% m-o-m, based on export statistics released by Societe Generale de Surveillance (SGS) and Intertek Testing Services (ITS). Overall, we estimate that Malaysian palm oil inventories may have increased by 14% m-o-m to 2.5 million tonnes as at end of November. The official figures will be released next Monday

•Nigeria has no business importing palm oil with scarce forex The report that Nigeria spent a whopping N116.3 billion ($323.1 million) in the first 10 months of this year to import palm oil yet again exemplifies the paradox of a country that perennially shells out scarce foreign exchange to import commodities that it is well endowed to produce for export. From being the largest producer of palm oil in the world with a market share of 43 per cent in the 1960s, the story is that Nigeria currently ranks at the bottom among palm oil producers, accounting for a miserable world share of 2.9 per cent.

The U.S. International Trade Commission (ITC) on Tuesday made a final finding that biodiesel imports from Argentina and Indonesia harm U.S. producers, ensuring that anti-dumping and anti-subsidy duties remain in effect for at least five years.