Archived News

SINGAPORE: Malaysian palm oil futures fell on Monday, snapping a three-session rally, as significant profit-taking, weaker rival vegetable oils, and lower crude prices weighed on prices.

SINGAPORE: Palm oil may climb into a range of 4,418 ringgit to 4,459 ringgit, as it has broken a resistance at 4,343 ringgit per tonne. The resistance is identified as the 161.8% projection level of a wave 3 from 3,851 ringgit.

02/03/2023 (Malay Mail), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is at the highest level in four months, said Fastmarkets senior analyst Sathia Varqa.

03/03/2023 (Borneo Post Online), Serian - The government is committed to helping smallholders to obtain the Malaysian Sustainable Palm Oil Certification (MSPO) for sustainable palm oil production, says Deputy Minister of Food Industry, Commodities and Regional Development, Martin Ben.

04/03/2023 (Gro Intelligence) - Price spreads between palm oil and soybean oil are particularly wide on a historical basis, despite a sharp narrowing since the start of the year. But spreads between the two biggest vegetable oils’ prices, which many food companies consider when making buying decisions, could return to still wider levels as 2023 advances.

05/03/2023 (WAM), Jakarta - The palm oil and derivative products industry would still serve as a crucial pillar of the national economy, Vice President Ma'ruf Amin stated.

04/03/2023 (The Sun Daily), Kuching - Malaysia will finalise the negotiations with Thailand to become a member of the Council of Palm Oil Producing Countries (CPOPC) after Thailand completes its general election, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

04/03/2023 (The Borneo Post), Kuching - Sarawak is still facing some problems with bringing in workers from Indonesia due to certain conditions that need to be met, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

KUALA LUMPUR (March 2): Fitch Solutions Country Risk and Industry Research has held unchanged its near-term palm oil price forecasts of annual averages of RM3,800/tonne through 2023, with upside risks, and RM3,400/tonne through 2024.

MUMBAI, March 2 (Reuters) - India's February palm oil imports dropped 30% from January to their lowest in 8 months as refiners preferred to lower their stocks as inventories piled up following excessive imports during October-January, five dealers told Reuters on Thursday.

INDONESIA, the world’s biggest palm oil exporter, plans to require crude palm oil exports to go through a futures exchange in order to create the country’s own benchmark price, the head of its commodity futures regulator said on Thursday (Mar 2).

TEMPO.CO, Jakarta - The Indonesian Trade Ministry announced that the reference price for crude palm oil (CPO) products (March 1-15) had increased to US$889.77 per metric ton, which is an increase of US$9.74 (1.11 percent) compared to the previous period.