Archived News

16/10/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures opened higher on Wednesday, bouncing back after two consecutive sessions of declines, on the strength of rival oils and crude oil prices.

15/10/2024 (Business Today) - Malaysia’s palm oil production reached its peak in August this year, two months earlier than in the past three years, which peaked in October. Palm oil production in September declined 3.8% to 1.82 million tonnes, with further seasonal reductions expected until end of the year. Despite the drop in production, the Malaysian Palm Oil Council said Malaysian palm oil exports remained robust, posting a modest increase of 0.9% to 1.54 million tonnes. Year-over-year, September exports surged by an impressive 27.3%.

15/10/2024 (New Straits Times), Kuala Lumpur - It is the perfect time to introduce used cooking oil (UCO) futures in light of the growing emphasis on sustainability in the palm oil industry, according to an industry expert.

15/10/2024 (Chemanalyst) - Australia exported 375,480 tonnes of canola in August, according to the Australian Bureau of Statistics, as reported by Grain Central. This figure shows a slight decline from the 386,034 tonnes shipped in July but remains above the 358,677 tonnes exported in August last year. The data highlights Australia’s strong performance in canola exports, which concluded a record-setting year on September 30, 2023, with a total shipment of 6 million tonnes.

15/10/2024 (Biofuels International) - The consumption of biodiesel in June 2024 decreased 3% tonnes month-on-month to 197,700 tonnes, according to the Federal Office for Economic Affairs and Export Control (BAFA).

15/10/2024 (The Sun) - MANY have read the coverage of palm oil in the business press recently, and I want to deal with one aspect of it here, a point I have valued highly.

14/10/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures rose on Monday, supported by a combination of speculative buying and short covering, although gains were capped by weaker crude oil prices.

14/10/2024 (Borneo Post Online), Kuching - Sarawak hopes to become a major player in the production of mechanised oil palm harvesters, following the unveiling of the ‘Lipan’ harvester in Miri recently, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

14/10/2024 (Ofi Magazine) - Daabon UK, part of the Daabon Group, has launched a carbon-neutral organic palm oil range.

15/10/2024 (Bangkok Post) - SET-listed energy conglomerate Bangchak Corporation intends to collect a large amount of used cooking oil for use as a raw material for its commercial production of sustainable aviation fuel (SAF) next year.

15/10/2024 (Biodiesel Magazine) - Soybean oil use for biobased diesel production reached a near-record high in June, but demand for soybean oil feedstock continues to face headwinds from rising imports of used cooking oil (UCO) and tallow, according to CoBank’s latest Quarterly Research Report, released Oct. 10.

11/10/2024 (Business Today) - Bursa Malaysia has confirmed plans to introduce a new futures contract for used cooking oil, pending negotiations with the industry and regulatory approval.