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SINGAPORE — Indonesia’s giant palm oil industry, long a target of global green groups, is shoring up its defenses closer to home as it tries to counter growing anti-palm oil sentiment among a more environmentally conscious generation of young Indonesians.

KUALA LUMPUR (Nov 9): Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended lower on Tuesday (Nov 9), tracking the weakness in the Chicago Board of Trade (CBOT) soybean oil market.

Indonesia may impose restrictions on used cooking oil (UCO) exports from next year to help fuel its own renewable energy targets, according to the Indonesian Palm Oil Association's vice-chairman for trade and sustainability Togar Sitanggang.

PARIS/SINGAPORE, Nov 9 (Reuters) - Chicago soybean futures were little changed on Tuesday after hitting their lowest in nearly a month as traders waited to see if a U.S. government report would support expectations of improved harvest prospects.

The U.S. corn, soybean yields do not go up as the trade expected. As a result, the CME Group’s soybean market jumped 51¢ immediately after the release of the report then dropped to 35¢ higher. Corn jumped up a dime, while wheat reacted positively as well.

Russia has set its export tax for sunflower oil at $276.7 per tonne for December, up from $194.5 per tonne in November, the agriculture ministry said on Tuesday.

The USDA maintained its forecast for 2021-’22 soybean oil use in biofuel in its latest World Agricultural Supply and Demand Estimates report, released Nov. 9. The estimate for 2020-’21 soybean oil use in biofuel was revised up.

Malaysia's stocks of palm oil at the end of October were likely up 3.1% month on month to 1.80 million mt as key buyers China and India bought less, a survey of analysts, growers and traders by S&P Global Platts found.

Malaysian palm oil futures reversed early losses on Monday, but weakness in rival oils in anticipation of higher global edible oil supplies capped the gains.

KUALA LUMPUR, Nov 9 (Reuters) - Malaysian palm oil futures fell on Tuesday, tracking weakness in rival oils, while expectations of a larger rise in October stockpile also weighed on sentiment.

KUALA LUMPUR: United Plantations Bhd's net profit jumped 61.7 per cent year-on-year (YoY) to RM154.15 million in the third quarter (Q3) ended September 30, 2021, from RM95.33 million recorded previously.

akarta (ANTARA) - The European Union (EU) still needs Indonesian palm oil, as the country's palm oil exports to Europe had soared by 26 percent in 2020, according to Presidential Chief of Staff Moeldoko.