Archived News

07/09/2024 (24.kg) - Vegetable oils rose in price in August by 0.8 percent compared to July. The Food and Agriculture Organization of the United Nations reported. According to its data, oil prices in August reached their highest level since January 2023.

08/09/2024 (Ohio Country Journal) - Ohio currently has the ability to crush about 56% of the state’s soybean crop, which equates to roughly 168,000,000 bushels of soybean crush capacity, according to Madison Corbi, Ohio Soybean Council Manager for Demand and Market Development. “With the planned growth we see, if everything comes to fruition, roughly another 55,000,000 bushels crush capacity would be added. Once complete, and doing math based on our 10-year average soybean production numbers, we’re going to have the capacity of around 85 to 90% of our total soybean crop. That’s mostly driven by the need for vegetable oils here in the US,” said Corbi.

08/09/2024 (Fakti) - We consumed over 6,000 tons of palm oil just for the first six months of the year, and that - without our knowledge. The reason lies in the pastry shops and restaurants. There, the products are without a label that we can read and from which we can be informed about what we are eating, reported FOCUS.

08/09/2024 (Financial Times) - Indonesian palm oil producers have warned of global supply chain disruption if the EU proceeds with a ban on the import of commodities linked to deforestation this year.

05/09/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives reversed earlier gains due to stronger performance in the soybean oil market during Asian trading hours, said palm oil trader David Ng.

06/09/2024 (The Star), Kuala Lumpur - Plantation companies are expected to see steady performance for the second half of 2024 amid stable crude palm oil (CPO) prices through the year.

05/09/2024 (Reuters), Jakarta - Malaysian palm oil futures extended losses to a third straight session on Wednesday, tracking a drop in prices of rival vegetable oils and a decline in India’s palm oil imports.

05/09/2024 (Barchart) - Soybeans are pulling off the early morning lows, with contracts down 2 to 3 cents in the nearbys at midday. Soymeal futures are dropping $5.50/ton in October. Soy Oil futures are back up 101 points in a rebound. There were no deliveries against September soybean meal or oil overnight, with 4 issued against September soybeans.

05/09/2024 (Business Today) - The plantation sector’s performance for 2QCY24 showed mixed results, with five companies meeting expectations, one falling short, and three exceeding projections. The overall earnings were driven by strong crop yields and elevated crude palm oil (CPO) prices, which ranged between RM3,834 to RM4,129 per metric tonne (Mt). The average selling price (ASP) of CPO strengthened to RM4,038/Mt, marking a 1.4% quarter-on-quarter increase and a 5.0% rise year-on-year. Analysts have adjusted their sector profit forecasts by +3% for FY24E, FY25E, and FY26F due to improved demand for derivative products, notably oleochemicals and biodiesel.

04/09/2024 (New Straits Times), Kuala Langat - The government is currently evaluating the use of RT-ECO technology, a cutting-edge method for treating palm oil mill effluent (POME), to enhance sustainable palm oil production in Malaysia.

04/09/2024 (The Edge Malaysia), Jakarta - Indonesia, the world's biggest palm oil exporter, plans to lower export levy rates of the tropical oil to improve competitiveness against rival vegetable oils and raise farmers' income, a government official said on Wednesday.

04/09/2024 (The Edge Malaysia), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended its decline on Wednesday amid concerns over rising stockpiles.