Archived News

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives continued its upward momentum to end higher today driven by lower April output from the Southern Peninsula Palm Oil Millers' Association (SPPOMA).

The Indonesia-EFTA Comprehensive Economic Partnership Agreement (IE-CEPA) was approved by the House on April 9 and has been called Indonesia’s doorway to the wider European market

Global vegetable oils and meals prices are expected to rise sharply in 2021, before stabilizing in 2022 due to supply shortfalls and stronger-than-expected consumption patterns, the World Bank said in its semi-annual commodity markets outlook report

Malaysian palm oil futures jumped more than 2% on Tuesday, boosted by stronger crude and competing soyaoil prices amid reports of higher April 1-20 exports.

China’s March soyabean imports from Brazil plunged as rain delayed some shipments from the world’s top exporter, but US bean imports rocketed more than fourfold as delayed cargoes arrived, hitting the highest monthly total since December 2016.

The benchmark palm oil contract FCPOc3 for July delivery on the Bursa Malaysia Derivatives Exchange was up 2 ringgit, or 0.05%, at 3,712 ringgit ($902.28) a tonne by the midday break, recovering from a 0.8% drop earlier in the session.

MALAYSIA can export other commodities to countries that have imposed bans on the usage of palm oil, Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali said.

Crude futures settled lower on Tuesday, pulling back from one-month highs, on fears that India, the world's third-biggest oil importer, may impose restrictions as coronavirus infections and deaths surge to record highs.

The domestic production of vegetable ghee and cooking oil during first eight months of current financial year decreased by 3.69 and 0.20 percent respectively as compared to the production of corresponding period of last year.

The Ministry of Plantation Industries and Commodities (MPIC) is reviewing the relevant regulation pertaining to palm kernel expellers to increase local supply as feed for livestock and reduce reliance on imports.

The Ministry of Plantation Industries and Commodities officials are expected to meet the Belgian Ambassador to Malaysia on commodity issues in early May

The palm oil imports into the country increased by 34.83 percent during the first three quarters of the current fiscal year against the imports of the same period of last year