Archived News

28/03/2023 (Hellenic Shipping News) - Malaysian palm oil futures closed higher on Monday, after falling for the last seven consecutive trading days, but weaker rival soyoil capped gains. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange ended up 65 ringgit, or 1.9%, to 3,577 ringgit ($809.46) a tonne.

27/03/2023 (Nasdaq), Singapore - Malaysian palm oil futures climbed on Monday, lifted by stronger March exports so far, setting the contract on course to snap a seven-day decline.

27/03/2023 (Eco-Business) - Palm oil industry veteran Carl Bek-Nielsen has been appointed as the new chairman of the Malaysian Palm Oil Council, an organisation tasked with promoting the market expansion of the country’s palm oil and its products.

27/03/2023 (Fast Company) - On a former sugarcane plantation in Oahu that was abandoned for decades, rows of trees now grow in the degraded soil. The trees—called pongamia—aren’t new to Hawaii. But a company called Terviva is the first to farm them, after discovering a way to process the trees’ beans to make them into food.

PETALING JAYA: The demand for palm oil is expected to recover, underpinned by an increasing need within Asia-Pacific, better affordability and improving global biofuel policies.

Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of around USD1,175/t in 2022, but a marked improvement from the end-September 2022 level of around USD700/t and the last 10-year average of USD730/t. Prices have been supported by market expectations of significantly higher biodiesel consumption in and lower exports from Indonesia, and the impact of heavy rainfall at the start of 2023 on output.

KOTA KINABALU: Universiti Malaysia Sabah (UMS) will conduct research on the use of oil palm waste materials in the construction industry.

KUALA LUMPUR: Malaysian palm oil futures on Friday extended losses to a seventh session to log their biggest weekly drop in more than four months, tracking weakness in rival edible oils.

BERNAMA – Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade with a downward bias next week on weak global sentiment, dealers said.

FOB soybean oil cash prices in South American markets have broken the $1,000/mt mark and plunged to a more than two-year low amid falling Chicago Board of Trade futures, thin demand and weakening port differentials.

23/03/2023 (The Edge Markets), Kuala Lumpur - The European Union (EU) has apparently failed to understand the processes involved in the Malaysian palm oil supply chain and it has refused to recognise the existence of smallholders in the entire supply chain, said Sarawak Dayak Oil Palm Planters Association (Doppa).

23/03/2023 (Malay Mail), Kuala Lumpur - The Malaysian Palm Oil Council (MPOC) today announced vice chairman and CEO of United Plantations Berhad Datuk Carl Bek-Nielsen as its new chairman effective May 1.