Archived News

Kuala Lumpur: Research firms believe that India’s import duty hike on crude palm oil (CPO) will reduce the price competitiveness of the commodity against other edible oils in the country, resulting higher cooking oil price with higher duties.

INDIA’S move to raise the effective import duty on crude palm oil (CPO) by 5.5 percentage points to 35.75%, effective Feb 1, 2021, will erode Malaysian palm oil producer price competitiveness, according to Maybank Kim Eng Research. “The increase in February’s import duty of CPO has eroded the price advantage of CPO vis-à-vis other crude and refined vegetable oils.

KUALA LUMPUR, Feb 5 (Reuters) - Malaysian palm oil futures rose for a second day on Friday on expectations of a drop in January stockpile and output, but the contract is set for a 3.9% weekly decline.

SINGAPORE: Palm oil may stabilise around a support at 3,208 ringgit per tonne and bounce towards 3,322 ringgit.

ROME: World food prices rose for an eighth consecutive month in January, hitting their highest level since July 2014, led by jumps in cereals, sugar and vegetable oils, the UN food agency said on Thursday.

JAKARTA (Reuters) - Indonesia's palm oil exports fell 9% last year as global demand was disrupted by the coronavirus pandemic, the Indonesian Palm Oil Association (GAPKI) said on Thursday, while forecasting exports would recover in 2021.

JAKARTA: Malaysia’s Prime Minister Tan Sri Muhyiddin Yassin arrived here yesterday for a two-day official visit to Indonesia at the invitation of President Joko Widodo (Jokowi).

SINGAPORE, Feb 4 (Reuters) - Malaysian palm oil futures snapped two sessions of losses to trade 0.3% higher on Thursday, tracking overnight gains in Chicago soyoil, which rose ahead of data that could show a continued tightening of global stocks.

KUALA LUMPUR, Feb 4 (Thomson Reuters Foundation) - I ndonesia's ambitious biodiesel programme will increase the risks of deforestation as more tropical forest could be cleared to grow palm oil, environmentalists have warned, urging policymakers to implement a long-term ban on new plantations.

KUALA LUMPUR (Feb 4): Malaysia’s palm oil stocks likely grew 7.5% month-on-month (m-o-m) to 1.36 million tonnes (at end-January 2021) due to a slower decline in production compared to exports, said CGS-CIMB.

SINGAPORE: Palm oil may fall to 3,322 ringgit per tonne, as it has cleared a support at 3,422 ringgit.

China-based soybean crushers and vegetable oil processors have resold at least 10 cargoes of Brazilian soybeans, as well as palm oil from Southeast Asia in the past two weeks as crush margins in China, fell sharply, according to several trade sources.