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Malaysian palm oil futures were on track for a second straight monthly gain amid concerns about tight supply as prices rose on Friday after two sessions of falls in a row.

JAKARTA: Malaysian palm oil futures posted a second straight monthly rise in October amid concerns about tight supply, with prices tracking gains in rival vegetable oils on Friday after two consecutive sessions of losses.

KUALA LUMPUR (Oct 30): The Ministry of Plantation Industries and Commodities (MPIC) opined that Budget 2022 focuses on a more targeted development of the agricultural commodity sector.

KUALA LUMPUR (Oct 29): Fitch Solutions Country Risk and Industry Research expects crude palm oil prices to average RM4,200 per tonne in 2021, compared with its previous forecast of RM3,800 a tonne.

KUALA LUMPUR: An amendment was passed by Dewan Rakyat to make it an arrestable offence to "discriminate against or boycott" Malaysian palm oil, says Datuk Rosol Wahid.

KUALA LUMPUR (Oct 28): The Ministry of Plantation Industries and Commodities (MPIC) remains committed to boosting oil palm and rubber yields through the application of technologies such as the satellite navigation system and smart irrigation.

KUALA LUMPUR (Oct 28): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower, tracking the overnight soybean oil’s losses on the Chicago Board of Trade (CBOT), Palm oil trader David Ng said.

Malaysian palm oil futures closed lower for a second straight session on Thursday, tracking weakness in rival vegetable oils and global crude oil.

The government of Pakistan has withdrawn its decision to reduce import duties and taxes of palm oil as previously announced amid signs that a lack of response from the industry has stoked government frustrations, local media reports have indicated.

SINGAPORE: Palm oil may fall to 4,822 ringgit per tonne, to complete a correction from the Oct. 21 high of 5,220 ringgit.

Cooking oil prices in India have started cooling from the previous month’s highs, in part due to the reduction in import duty on edible oils and the Centre’s directive to the states to maintain stocks and prevent hoarding of the essential kitchen commodity. The wholesale price of soyabean oil

Assessing the outlook for the coming year’s oilseed market at this early stage is never easy but right now, for every factor that would support prices in 2022, there is another factor that would weigh down the market.