Archived News

SINGAPORE (Nov 23): Indonesia's palm oil exports and production in 2021 are both likely to fall for a second straight year, the vice chairman of the country's palm oil association (GAPKI) said on Tuesday.

THE Ministry of Plantation Industries and Commodities is working closely with key stakeholders to future-proof the palm oil industry.

KUALA LUMPUR (Nov 23): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Tuesday (Nov 23), driven by stronger output data.

PETALING JAYA: Boustead Plantations Bhdhttps://cdn.thestar.com.my/Themes/img/chart.png’s net profit jumped five-fold to RM95.56mil in the third quarter ended Sept 30, 2021, from RM17.97mil in the same period a year ago, thanks to higher palm product prices.

After raising the price of soybean oil by Tk7 per litre on 19 October, edible oil traders want to increase the price again on the pretext of price hikes in international market.

KUALA LUMPUR (Nov 22): Palm oil producer Keck Seng (Malaysia) Bhd's net profit rose 327% to RM17.56 million for the third quarter ended Sept 30, 2021 (3QFY21), compared with RM3.84 million in the immediate preceding quarter, on better refining margins.

The Council of Palm Oil Producing Countries (CPOPC) aims to continue engaging the palm oil industry to present the correct narratives to help the market perceive a balanced market perception through the “Opportunities and Challenges for Palm Oil Producer Countries (OCOPOP) webinar. The current bullish prices of palm oil can be sustained if threats and challenges are identified, and producer countries develop strategies to mitigate any possible setbacks. An immediate focus is how the industry will be able to formulate strategies and actions to ensure the continuation of current remunerative prices for 2022.

SINGAPORE: Palm oil may test a support zone of 4,926-4,960 ringgit per tonne, following its failure to break a resistance at 5,071 ringgit.

DUBAI (Nov 22): The bilateral trade between Malaysia and United Arab Emirates (UAE) is set to record healthy double-digit growth in the post-pandemic era next year, said Malaysia’s Ambassador to the UAE Mohd Tarid Sufian.

KUALA LUMPUR (Nov 22): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Monday (Nov 22), weighed down by the overnight losses in the soybean oil market on the Chicago Board of Trade (CBOT).

US soybean processors are profiting from widening crush spreads as soybean meal and soybean oil prices rally. Crush margins are expected to remain elevated into 2022 as the looming Brazilian soybean crop weighs on global soybean prices and demand for oil and meal remains robust.

FORT COLLINS, Colo., Nov 22 (Reuters) - Argentina’s core grain belt is on pace for better rainfall this month than has been seen in many recent Novembers, but with La Nina in action and planting still in progress, the country’s soybean crop remains at risk of a third consecutive disappointment.