Archived News

KUALA LUMPUR: Malaysian palm oil futures ticked up on Tuesday as trading resumed after a long holiday weekend, with stronger rival Dalian vegetable oils underpinning the market, although low volumes of trade limited gains.

Latin American soybean crushing volumes are likely to increase consistently in 2024 on the back of a recovery in Argentina's crop output and a higher biodiesel mandate set for Brazil.

KUALA LUMPUR, Dec 27 (Reuters) -Cargo surveyor Societe Generale de Surveillance (SGS) estimates exports of Malaysian palm oil products for December 1-26 at 1,038,834 metric tons, according to LSEG.

Global grain markets faced pressure last week due to limited export news following a surge in US wheat sales the previous week and forecasted rains in Brazil.

JAKARTA (Reuters): Indonesia said on Friday that it would slap palm oil companies operating within forest areas with fines amounting to a total of 4.8 trillion rupiah (US$310.1 million RM1,45 billion).

In Brazil, Reuters reports that will the expected increase in the biodiesel mandate to 13% from March 2024, soybean exports are expected to fall as the additional biodiesel volumes will require 5 million metric tons of soybeans.

Bangladesh's cooking-oil refiners are moving towards becoming value-added producers by establishing soybean-crushing plants locally, producers and insiders said on Monday

NEW DELHI: Malaysian palm oil futures fell for a fifth consecutive week as demand dropped ahead of a long holiday season, but higher crude oil prices limited losses.

New Delhi, Dec 22 (SocialNews.XYZ) The Central government has extended the reduced customs duty applicable to edible oil imports by a year in order to keep prices in check.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to see profit-taking next week, with prices expected to move between RM3,400 and RM3,500 per tonne.

The government on Friday extended the lower import duty structure for palm, soyabean and sunflower oils by a year till March 31, 2025, which the industry says may adversely impact processing and prices of domestic oilseeds.

Kuala Lumpur: Fitch Ratings expects Malaysian benchmark crude palm oil (CPO) spot prices to average at US$650 per tonne in 2024, substantially lower than circa-US$840 per tonne in 2023 due to higher supply.