Archived News

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.

24/01/2023 (The Star Online), Petaling Jaya - Plantation companies are maintaining a cautious outlook for 2023, on the back of lower crude palm oil (CPO) and palm kernel (PK) prices and unresolved labour issues.

25/01/2023 (New Straits Times) - MALAYSIA and Indonesia's commitment to strengthening cooperation through the Council of Palm Oil Producing Countries (CPOPC) to fight discriminative trade policies against palm oil is an encouraging development for the oil palm industry.

25/01/2023 (Channel News Asia), Jakarta - Indonesia's palm oil exports fell 8.5 per cent 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.

25/01/2023 (Business Recorder) - International palm oil prices have stabilized, having hit record highs last year. Pakistan’s import unit cost for palm oil in December 2022 at $1,043/ton was the lowest in 21 months – having hit a high of $1646/ton six months ago. Import quantities have largely remained unchanged for 1HFY23 despite significant increases in retail prices. The jury is out on whether Pakistan is doling out the precious foreign exchange to satiate the demand of neighboring Afghanistan for palm oil as well – in addition to pulses and wheat.

JAKARTA : Indonesia plans to launch a crude palm oil benchmark price by June, the country's trade minister said on Thursday.