Archived News

KUALA LUMPUR (Nov 3): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher for the second consecutive day on anticipation of tightness in production supply and hopes of China stepping up purchases as its government asked citizens to stock up food, said Mumbai-based Sunvin Group’s commodity research head Anilkumar Bagani.

India's vegetable oil imports are set to rise to 14 million mt in the marketing year 2021-22 (November-October), driven largely by a pickup in sunflower oil imports, Sandeep Bajoria, CEO of Mumbai-based vegetable oil broking firm Sunvin Group said Nov. 3.

KUALA LUMPUR (Nov 3): Malaysia's plantation sector, which is the most highly taxed sector in the country, is likely to be subjected to the recently-announced "Cukai Makmur" (prosperity tax) under Budget 2022, according to Maybank Kim Eng's head of regional equity research Anand Pathmakanthan.

India's recent limits on edible oil stocks are not expected to slow palm oil imports in the near term, but harsher restrictions could backfire on the domestic supply chain at a time when the country is facing soaring food inflation and markets are in the middle of a festive season, trade sources told S&P Global Platts.

KUALA LUMPUR (Nov 2): The Malaysian Palm Oil Board (MPOB) said on Tuesday (Nov 2) food manufacturers must demand palm oil containing lower levels of potential carcinogens 3-monochloropropane-1,2-diol esters (3-MCPDE) and glycidyl esters (GE) from suppliers, so that their food products can be accepted by consumers.

The country, which is heavily dependent on imports, had suffered because of a drop in production in Argentina and Brazil as well as reduction in palm oil production in Malaysia and Indonesia.

SINGAPORE: Palm oil may retest a resistance at 5,048 ringgit per tonne, a break above could lead to a gain to 5,187 ringgit.

KUALA LUMPUR, Nov 2 (Reuters) - Malaysian palm oil futures rose slightly on Tuesday as China called on its citizens to stock up on food ahead of winter, overturning a slump earlier in the session over expectations of higher end stocks and rumours of poorer exports.

KUALA LUMPUR, Nov 3 (Reuters) - Malaysian palm oil futures fell on Wednesday, tracking weakness in rival edible oils as well as crude prices.

Malaysian palm oil futures fell on Monday as investors turned cautious ahead of data on early November output and offset support from stronger rival oils.

KUALA LUMPUR: Malaysian palm oil futures rose slightly on Monday, extending their rally after two straight months of gains, as strength in rival oils lent buoyancy to the tropical commodity.

SINGAPORE: Palm oil looks neutral in a range of 4,909-5,048 ringgit per tonne, and an escape could suggest a direction.