Archived News

KUALA LUMPUR (May 12): The benchmark crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Thursday, tracking weakness in the Chicago Board of Trade (CBOT) soyoil futures market as well as lower crude oil prices during Asian hours, dealers said.

SINGAPORE: Palm oil may break a resistance at 6,602 ringgit a tonne, and rise to 6,758 ringgit.

Buyers in China, the world’s second-largest palm oil importer, are “no longer big bulls” in the commodities markets as they face an economic slowdown while the country chases a zero-COVID policy, edible oil analyst Dorab Mistry said on Wednesday.

The USDA predicts that soybean oil use in biofuel production for 2022-’23 will be up in its latest World Agricultural Supply and Demand Estimates report, released May 12. Soybean oil prices are expected to be down slightly.

When neighboring countries condemned Indonesia for failing to control the annual forest fires that caused a haze to blanket their land and choke their people, the government quickly blamed palm oil smallholders as perpetrators of the man-made disaster. But many believe, even government officials often insist in private conversations, that the palm oil giants are innocent.

CNA – Indonesia is seeking a balance between capitalising on high global palm oil prices while ensuring food at home is affordable, a senior government official said yesterday, amid the country’s ongoing ban on exports of the vegetable oil.

11/05/2022 (The Star Online), Petaling Jaya - The prolonged labour shortage in the oil palm plantation sector remains unresolved, as the government has yet to fulfil its promise of bringing in 32,000 foreign workers.

11/05/2022 (Business Recorder), Kuala Lumpur - Malaysia’s commodities ministry has proposed cutting the export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world’s second-largest palm oil producer.

11/05/2022 (The Star Online), Johor Baru - Malaysia is unable to take advantage of the rising prices of crude palm oil due to an acute labour shortage, lament Felda settlers.

11/05/2022 (The Star Online), Jakarta - Indonesia is seeking a balance between capitalising on high global palm oil prices while ensuring food at home is affordable, a senior government official said on Wednesday (May 11), amid the country's ongoing ban on exports of the vegetable oil.

11/05/2022 (Borneo Post Online), Kuching - Both upstream oil palm growers and downstream oil producers in Malaysia should join hands in reaping the benefits deriving from the void following Indonesia’s decision to halt its palm oil exports.

11/05/2022 (The Edge Markets), Mumbai / Kuala Lumpur - Indonesia's "unpredictable" palm oil export policies may help Malaysia emerge as the dominant supplier to India, the world's top buyer of the edible oil, industry sources said.