Archived News

JAKARTA: Malaysian palm oil futures rose for a second straight session on Friday on bargain-hunting, but were set for a weekly drop due to sluggish exports and a stronger ringgit.

With the Union Budget 2023-24 being just a couple of days away hence thought of sharing the agri industries’ expectations out of the budget.

PUTRAJAYA, Jan 26 — Malaysia will hold a meeting with the Indonesian government to discuss the republic’s intention to have its own crude palm oil (CPO) benchmark price, said Deputy Prime Minister and Minister of Plantation and Commodities Datuk Seri Fadillah Yusof.

KUALA LUMPUR: Malaysia has maintained its February export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.

Indonesia, the biggest palm oil supplier, is studying rules that would require exporters to trade at least some of their oil on local exchanges before shipping it overseas in order to improve control and data transparency.

Indonesia’s palm oil exports fell 8.5% last year because of a volatile regulatory environment and sluggish output that is expected to continue this year, the Indonesia Palm Oil Association (GAPKI) said on Wednesday.

JAKARTA: Malaysian palm oil futures rebounded on Thursday, as traders sought bargains after prices hit a more than six-week low in the previous session, while a stronger ringgit and disappointing exports data weighed on sentiment.

SINGAPORE: Palm oil may test a support at 3,683 ringgit per tonne, a break below which could open the way towards the 3,500-3,606 ringgit range. The deep fall on Wednesday confirms the continuation of a wave C from 4,276 ringgit, which is travelling towards its 100% projection level of 3,500 ringgit.

25/01/2023 (Jakarta Globe), Jakarta - World’s largest palm oil producer Indonesia should not fear losing the European Union or EU, as the Southeast Asian country still has a lot of other markets to export its top commodity to, according to the Indonesian Palm Oil Association or Gapki.

25/01/2023 (Nasdaq), Jakarta - Malaysian palm oil futures fell on Wednesday, its first trading day after the Lunar New Year holidays, tracking recent weakness in U.S. soyoil prices amid a lull in exports.

26/01/2023 (Hellenic Shipping News) - Malaysian palm oil futures posted their biggest loss in over six weeks on Wednesday, in the first trading day after Lunar New Year holidays, tracking weakness in U.S. soyoil and as lower export volumes weighed.

26/01/2023 (Hellenic Shipping News) - India’s palm oil imports could drop 29% in the March quarter from the previous quarter as record inventories and weak demand prompt refiners to curtail purchases and focus on liquidating stocks, five dealers told Reuters.