Archived News

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.

03/07/2024 (The Star) - The Malaysian Palm Oil Council (MPOC) hosted a delegation from the United Kingdom, to showcase the industry’s sustainable practices and socio-economic contributions.

03/07/2024 (The Star), Petaling Jaya - TA Research is maintaining a “neutral” call on the plantation sector with no changes to its crude palm oil (CPO) price assumptions of RM4,000 per tonne for 2024 and RM3,800 per tonne for 2025.

02/07/2024 (Free Malaysia Today), Kuala Lumpur - Plantation and commodities minister Johari Ghani has proposed that the windfall tax derived from the country’s palm oil industry be channelled back to oil palm growers for replanting.

02/07/2024 (Reuters), Jakarta - Malaysian palm oil futures closed higher, extended gains to a fifth consecutive session on Tuesday, underpinned by concerns about weak production and tracking a rise in rival oils.

02/07/2024 (The Edge Malaysia), Kuala Lumpur - India's palm oil imports rose by 3% in June from the previous month to reach the highest level in six months on robust demand from refiners for upcoming festivals and as the oil traded at a discount to rival oils, five dealers told Reuters.

02/07/2024 (New Straits Times), Kuala Lumpur - Johor Plantations Group Bhd (JPG) saw a substantial rise in its net profit, surging by 111.5 per cent to RM49.5 million in the first quarter ending March 31, 2024 (1Q24), compared to RM23.4 million in the same period a year ago.