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KUALA LUMPUR: Malaysian palm oil futures rebounded on Monday, snapping a two-day decline after India, the world’s biggest vegetable oil buyer, lowered import taxes amid lingering concerns of tight edible oil supply worldwide.

KUALA LUMPUR: The labour crunch in the plantation sector can be tackled by next year, with the government expected to reopen the border with the robust vaccination rate growth, said MIDF Research.

MUMBAI - India has cut base import taxes on palm oil, soyoil and sunflower oil, according to a government notification, as the world's biggest vegetable oil buyer tries to cool near-record price rises.

The outlook for the US soybean crop is improving after recent rains in the Midwest raised prospects for the yield and production.

High palm oil prices will dampen demand from South Asian buyers — India, Pakistan, and Bangladesh — in 2020-21 marketing year and lead to higher ending stocks of the tropical oil, the US Department of Agriculture’s monthly oilseeds report showed on Sept. 10.

KUALA LUMPUR: Malaysian palm oil futures extended early gains on Monday, as lower import taxes in India, the world's biggest vegetable oil buyer, raised demand hopes amid traders concerns of tight edible oil supply worldwide for the rest of the year.

India's imports of edible oil could fall to their lowest in six years, contracting for a second straight year because of the coronavirus outbreak and demand squeezed by record prices, a senior industry official said on Wednesday.

Malaysian palm oil futures rose for a fifth consecutive session on Wednesday, hitting a three-week high on concerns over tight supply and hopes of improving export demand

The price of crude palm oil (CPO) is expected to be stable at above RM4,000 per tonne for the third quarter of 2021 before weakening in the fourth quarter due to the expected recovery in production.

The post-pandemic outlook for the palm oil industry in Malaysia remains bright, backed by the balanced supply and demand as well as expected recovery from labour shortages next year.

India imports 60 per cent of the edible oil it consumes and runs up an import bill of ₹80,000 crore. Of that, palm oil alone accounts for 55 per cent. In the quest for self-sufficiency, the government last week introduced the National Mission for Edible Oil and Oil Palm (MNEO-OP), which seeks to give a big push to domestic palm oil cultivation.