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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

The media must become a strategic partner to the Ministry of Plantation Industries and Commodities (MPIC) to ensure every policy implemented can be disseminated to the people, its Minister Datuk Dr Khairuddin Aman Razali said.

Malaysian palm oil futures eased on Monday on expectations for rising production and as a surge in COVID-19 cases in top importer India and other countries ignited demand concerns.

S corn futures rose on Monday, flirting with multi-year highs set last week, as forecasts for frosty weather and precipitation raised concerns about the pace of planting and germination, analysts said

The confectionery industry worth Rs. 150 billion is still in the dark over the immediate ban on palm oil imports, with no proper directions given on the procedures to obtain licences, whilst many small and medium-sized enterprises (SMEs) are running short of stocks amidst increased demand.

The group has announced that it would be buying close to 2,900 acres of fully-cultivated oil palm plantation in Kinabatangan, Sabah in four separate deals worth a combined RM92.5mil expected to be completed in the second quarter of this year.The total land acquired is equivalent to 8% of Kim Loong’s current planted area.

Malaysian palm oil futures slipped for a second consecutive session on Tuesday, tracking weaker rival soyoil, in cautious trading ahead of April 1-20 export data.

In this regard, NBR Director (Public Relations) Syed A Mumin said the revenue board has taken such a decision as part of its various initiatives for controlling commodity prices during Ramadan.