Archived News

A little over a month ago, Indonesia’s Environment and Forestry Ministry sought to extend a moratorium on issuing new licenses for using forest and peatland in the country for two years.

KUALA LUMPUR: Malaysian palm oil futures on Thursday rose for a second consecutive session on the back of concerns over output growth, although the market had earlier shown mixed signals due to a stronger ringgit and weaker exports.

Palm oil prices could come under further pressure in June as weakening export demand outweighs an expected drop in production during the Ramadan and the Eid-Al-Fitr holiday period.

Corn and soybean export sales increased in the latest week but matched trade forecasts and topped the paces needed to meet the U.S. Department of Agriculture’s annual forecasts.

Continuing its losing streak for the third day, crude palm oil prices fell by 0.45 per cent to Rs 486.50 per 10 kg in futures trading today as speculators engaged in reducing positions, triggered by easing demand in the spot market.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday June 16.

14/06/2017 (The Star Online) - PUTRAJAYA: Malaysia initiated a special palm oil mission to the European Parliament in Strasbourg, France, on June 12-13 to discuss the European Union's (EU) resolution on palm oil and deforestation.

15/06/2017 (The Star Online) - KUALA LUMPUR: Malaysian palm oil futures bounced back on Wednesday from a 10-month low hit in the previous session, tracking a stronger performance in soyoil on the Chicago Board of Trade and China's Dalian Commodity Exchange.

13/06/2017 (Mongabay.com) - The Norwegian parliament voted today to ban the public procurement and use if palm oil-based biofuel – possibly becoming the first country to do so.

14/06/2017 (Seeking Alpha) - As reported by Chain Reaction Research, the palm oil industry's transformation towards sustainability gained traction in 2013 when major purchaser Unilever engaged SE Asian refiners and traders to embrace 'No Deforestation' policies. As a result, in 2013, Wilmar was the first SE Asian refiner or trader to adopt a No Deforestation, No Peat, No Exploitation (NDPE) policy. Many other trading companies in SE Asia, Europe, U.S., and Latin America followed suit. Currently, most large international palm oil traders and refiners have NDPE policies.

14/06/2017 (The Economic Times) - NEW DELHI: Palm oil import rose 21.58 per cent to 7,99,346 tonnes in May because domestic vegetable oil output fell as farmers were reluctant to sell oilseeds below the minimum support price for processing, industry body Solvent Extractors Association (SEA) said today.

14/06/2017 (Hellenic Shipping News) - Malaysian palm oil exports during rose 17.33% on the month in May to 1.51 million mt, driven by Ramadan and Eid Ul Fitr festival demand from destination markets like Bangladesh, India, Pakistan and Egypt, data from the Malaysian Palm Oil Board showed.