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KUALA LUMPUR: Malaysian palm oil futures rose more than 2% on Monday after hitting a six-week low in the previous session, as traders’ assessed a Reuters’ survey showing an uptick in end-March inventories. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange closed up 120 ringgit, or 2.16%, to 5,686 ringgit ($1,348.99) a tonne, ending a three-session decline.

KUALA LUMPUR, April 4 — The Minister of Plantation Industries and Commodities Datuk Zuraida Kamaruddin has led the Economic and Agricommodity Products Promotion Mission to Turkey from March 26 to March 30, 2022.

While the war in Ukraine has had a direct impact on some commodity markets like corn and wheat, its impact is more indirect when it comes to soybeans. But there is an impact nonetheless.

PARIS, April 4 (Reuters) - A virtual halt to Ukrainian vegetable oil production and exports due to war with Russia may continue until June before gradually resuming from July, adding to supply tensions in European oilseed markets, consultancy Strategie Grains said.

CHICAGO, April 4 (Xinhua) -- Chicago Board of Trade (CBOT) agricultural futures rose across the board on Monday, led by wheat.

A major energy and food crisis is unfolding as a result of the war in Ukraine. Russian President Vladimir Putin is forcing European nations to pay in rubles for Russian gas. And the European Union is worried about the acute shortage of sunflower and rapeseed oils that may cause a dent in the food industry.

The ongoing Russia-Ukraine conflict have caused the prices of sunflower seed oil to surge and supply continues to decrease THOUGH we may be miles away, the ongoing Russia-Ukraine conflict is bound to have some form of economic impact on us.

After a meeting yesterday, Malaysian and Indonesian officials agreed that their countries would not compete over palm oil prices. Malaysia’s PM announced the agreement with Indonesia’s president after their meeting. He said that he and the Indonesian president will determine the price together. The two countries account for roughly 85% of the world’s palm oil production.

Malaysian palm oil futures fell on Friday to a six-week low and were on course for a weekly decline, tracking losses in rival soyoil amid hopes of improving production, as traders shrugged off data that showed better March exports.

Bangladesh's consumers have increased consumption of palm and mustard oil as many of them have switched from soybean oil due to its rising prices, according to a recent report by the US Department of Agriculture (USDA).

A spike in the price of cooking oil has hit Indonesia, where the Islamic fasting month started on Sunday. Behind the price hike is an increasing global demand of palm oil produced in Asia amid concerns of a shortage in the supply of sunflower oil, which is made mainly in Ukraine and Russia.

31/03/2022 (The Star Online), Kuala Lumpur - Creative and innovative ways in utilising technology are crucial to maintain the palm oil industry’s competitive advantage, said Council of Palm Oil Producing Countries executive director Tan Sri Dr Datuk Yusof Basiron.