Archived News

18/09/2024 (New Straits Times), Kuala Lumpur - Palm oil prices are expected to remain steady at RM 3,850 this month, despite approaching peak production season, according to the Malaysian Palm Oil Council (MPOC).

18/09/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives snapped a three-day losing streak to end higher on Wednesday as the market expects a resumption of vegetable oil demand from India for the upcoming festive season, said a trader.

18/09/2024 (The Edge Malaysia), Kuala Lumpur - Analysts predict a price correction for crude palm oil (CPO) in the fourth quarter of this year (4Q2024), primarily due to India's recent decision to raise import taxes on edible oils and the upcoming peak production season, especially in Indonesia.

18/09/2024 (Reuters), Mumbai - India's edible oil consumption is set to grow at a pace of 2%-3% as cooking oils remain affordable despite an import duty hike, a leading importer told Reuters on Wednesday.

18/09/2024 (Business Line) - Indonesia, one of the largest exporters of palm oil, plans to cut export duty on palm oil early next month to support its farmers amid drop in demand.

18/09/2024 (Borneo Post Online), Kota Kinabalu - The Embassy of Switzerland in Malaysia conducted a significant visit to Kota Kinabalu on September 12 and 13, engaging with key stakeholders driving the Sabah Jurisdictional Approach for Sustainable Palm Oil (JASPO).

18/09/2024 (Barchart) - Soybeans were posting double digit gains to start the day session, but are fading back to just 1 to 2 cent higher trade at midday. CmdtyView’s national front month Cash Bean price is up 1 ¾ cents at $9.46 ¾. Front month Soymeal futures are down $2.10/ton. Soy Oil futures are up just 12 points at midday.

19/09/2024 (Biodiesel Magazine) - A report filed with the USDA Foreign Agricultural Service’s Global Agricultural Information Network discusses how China’s domestic biobased-diesel industry has been impacted by the European Union’s provisional antidumping duties on biodiesel and renewable diesel.

17/09/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures slipped on Tuesday, when the market reopened after a holiday, weighed downby India's decision to raise its import tax on edible oils.

18/09/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower for the third consecutive trading day yesterday, mainly driven by India imposing higher import tax on edible oils, according to a trader.

17/09/2024 (The Hindu Business Line) - The recent hikes in import duties on crude and refined edible oils by the Indian government will push up the prices of some fast moving consumer products such as soaps, personal care products, and snacks, as well as edible oils.

17/09/2024 (ANI), New Delhi - A meeting was held between the secretary Department of Food and Public Distribution and representatives of various edible oil industry bodies, wherein they discussed the pricing strategy.