Archived News

PARIS/WINNIPEG/SHANGHAI — Rapeseed prices are surging to record highs as traders scour the world for supplies of the oil-rich crop, illustrating growing strain across oilseed markets exerted by booming Chinese demand.

KUALA LUMPUR, March 9 ― The commodity and commodity-based products sectors contributed RM85.1 billion to the country’s gross domestic product (GDP) last year, Plantation Industries and Commodities Minister Datuk Mohd Khairuddin Aman Razali said.

Soyabean prices surged to a near seven-year high of $14.44 a bushel (₹3,875 a quintal) on the Chicago Board of Trade on Monday on excess rains in Brazil and dry weather in Argentina.

PARIS/SINGAPORE- Chicago soybean futures inched down on Tuesday, consolidating after hitting near a seven-year peak a day earlier and ahead of a U.S. government report expected to trim projected global supplies amid adverse crop weather in South America.

KUALA LUMPUR, March 10 (Reuters) - Malaysian palm oil futures snapped a five-session winning streak on Wednesday, dragged by cheaper rival oils and expectations of higher supply and weak exports.

Oil prices settled lower on Monday, retreating from a session peak above $70 a barrel after attacks on oil facilities in Saudi Arabia lifted prices that high for the first time since the COVID-19 pandemic began.

OILS (per 10 Kgs) G.Nut Raw 1525.00 Kardi Expeller - Sesame Expeller - Sunflower Exp. 1620.00

The PUNCH reported that officials from the Federal Ministry of Agriculture and Rural Development, states, agencies and non-governmental organisations revealed that Nigeria was spending about $500m annually on oil palm imports.

The associations laud the initiative by the government to utilise the additional cess of RM2 per tonne imposed on crude palm oil (CPO) and crude palm kernel oil (CPKO), derived from the new MPOB Cess Order (Amendment) 2021, to support mechanisation and automation for the oil palm industry

Pressure is mounting on US officials to provide evidence to support a ban slapped on one of the world’s largest producers of sustainable palm oil (SPO) after unsubstantiated forced-labor allegations.

Malaysia's palm oil sector stands to lose an estimated RM11.83 billion in revenue for each year that pandemic curbs restrict the supply of workers, an industry grouping said today.

Malaysian palm oil futures ended nearly 4% higher on Monday, tracking a sharp rise in rival soyoil, crude and world markets on passage of a large U.S. stimulus package, while investors also awaited the Malaysian Palm Oil Board data.