Archived News

US corn and soyabean futures fell on Monday as rains boosted recently planted crops across the US Midwest and as traders weighed future export demand following a flurry of corn purchases by China last week.

Genting Plantations Bhd reported a 30.2% year-on-year (y-o-y) decline in its first quarter ended March 31 net profit to RM63.73mil, while revenue for the quarter also fell y-o-y to RM536.58mil.

The plantation conglomerate, which posted a significant jump in Q3’FY21 earnings on higher CPO prices, remains positive on the prospects of its upstream profit in the upcoming quarter due to the prevailing high CPO price

Euronext wheat fell on Monday, tracking a sharp decline in Chicago futures as an improving outlook for the US winter wheat crop eased concerns about tight supplies.

CBOT wheat may test a support at $6.62 per bushel, a break below which could open the way towards the range of $6.44-3/4 to $6.51-1/4.

KUALA LUMPUR: Boustead Plantations Bhdh is allocating RM115mil as capital and replanting expenditure for 2021 to strengthen its long-term prospects, chief executive officer Ibrahim Majid said.

Hap Seng Plantations Bhd posted a net profit of RM29.37 million in the first quarter ended March 31, 2021 (1QFY21), compared with a net loss of RM6.02 million a year earlier, due to higher average crude palm oil (CPO) and palm kernel (PK) prices.

IOI Corporation Bhd is expected to post much stronger results in the fourth quarter ending June 30,2021 (4Q21), underpinned by higher palm oil prices and production, TA Securities Research says.

President of the Artisanal Palm Oil Millers and Out-growers Association of Ghana, Paul Kwabena-Amaning has called on government to commercialize the production of oil palm to boost Ghana's economy.

Malaysia plans to launch a new palm oil futures contract in the third quarter, allowing traders in the nation's two largest palm producing states greater price discovery and a viable option for physical delivery.

Amid concerns over up to 62 percent spike in domestic edible oil prices, Food Secretary Sudhanshu Pandey on Monday discussed in detail the reasons for the "abnormal rise" in local prices, and asked the states and industry stakeholders to take measures to soften the prices.

While the EU is by far the largest market for Bangladesh, our exports would only represent a fraction of the products in the EU market—remember also that the EU no longer includes the United Kingdom because of Brexit. The UK was previously one of Bangladesh's largest markets in the EU, particularly for clothing.