Archived News

07/07/2024 (Business Recorder), Jakarta - Malaysian palm oil futures closed with their best week in five, even as prices fell on Friday as traders chose to book profits ahead of a long weekend.

04/07/2024 (The Star), Bangi - The price of palm oil will become uncompetitive compared to other producing countries if the windfall profit levy (WPL) on palm oil in this country is not revised.

04/07/2024 (Media OutReach Newswire), Padang, Indonesia - Apical, a leading vegetable oil processor, held a groundbreaking ceremony today at its PT Padang Raya Cakrawala (PRC) facility to mark the construction of a new crude palm oil (CPO) refinery and fractionation plant for cooking oil production. Located in Padang City, West Sumatra, Indonesia, these new plants are set to boost Apical's production capacity to meet growing demands of both domestic and international markets.

04/07/2024 (Reuters), Jakarta - Malaysian palm oil futures dropped on Thursday, tracking loss in the Dalian soyoil contract, while the market awaited for export and production data from the Malaysian Palm Oil Board (MPOB).

04/07/2024 (The Malaysian Reserve) - PALM OIL stockpiles in Malaysia probably hit the highest level since February as exports from the world’s second-largest grower slumped. Still, expectations for better demand ahead boosted prices to a two-month high.

04/07/2024 (Capital News), Nairobi, Kenya - Cooking oil manufacturers have expressed deep concern over the introduction of a 10 percent import duty on crude oil warning it will cause significant price increases for cooking oil, an essential staple for millions of Kenyan households.

03/07/2024 (The Edge Malaysia), Kuala Lumpur - Dry weather conditions affecting palm oil yield along with gains in soybean oil and palm olein futures have pushed Malaysian crude palm oil (CPO) prices above RM4,000 per tonne for the second consecutive day, said industry observers.

03/07/2024 (Oils & Fats International) - Global consumer goods giant Unilever is reducing the palm oil content in its soaps in India by 25% as part of a wider strategy to offset volatility in commodity prices and reduce environmental impact, according to a report by the Economic Times.

03/07/2024 (The Geopolitics) - Green or sustainable trade is the only possible way to make a clear progress in the climate agenda. Indonesia, as the world’s center of commodity production, has to take a step in the connectivity between commodity and green trade in the age of climate crisis. Economic and environmental factors are linked, and achieving success in one sector depends on proactive measures in other sectors. Moreover, Indonesia’s market commodity plays a vital role in the nation’s GDP.

04/07/2024 (The Standard) - The Association of Edible Oil Manufacturers has called on the government to put on hold plans to impose a 10 per cent import duty on crude palm oil, to forestall an increase in cooking oil prices.

03/07/2024 (Barchart) - Soybean trade is pushing higher on Wednesday, with contracts up 8 to 15 cents. Soymeal is 40 cents/ton in the front months, with Soy Oil up 79 to 159 points on the day. There were again zero deliveries vs. July soy meal and July soybean futures overnight. Soy oil contracts stopped the day before were re-issued, with 121 put out. The oldest soybean long is dated June 7. Wednesday will be the last full trade day of the week with Thursday off for the July 4th holiday, and a hard 8:30 am CDT open on Friday.

03/07/2024 (Open PR) - The global olive oil market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period (2024-2031). Consumers nowadays pay more attention to label claims while purchasing their oil products. There is an increasing demand for vegetable oils with specific health claims such as high omega-3, MUFA (monounsaturated fatty acids), and vitamin E due to the rising awareness of their positive health attributes. The product is high in MUFA and antioxidant content, which supports the normal functioning of the heart. The growing demand for such nutritious oils heavily contributes to the growth of the market.