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Malaysian palm oil futures edged up on Monday, gaining for a third session in four on the back of strength in rival soyaoil and expectations of low inventories and tight supply

Palm oil may test a resistance at 3,810 ringgit per tonne, with a good chance of breaking above this level and rising into 3,887-4,011 ringgit range.

Sri Lanka on Monday banned imports of palm oil and new palm plantations, and told producers to uproot existing plantations in a phased manner, in a surprise move that baffled the edible oil industry.

TDM Plantation Sdn Bhd has received International Sustainability and Carbon Certification (ISCC) valid from March 17, 2021 until March 16, 2022.

Malaysia’s palm oil inventories at the end of 2021 are projected to decline for a third consecutive year to 1.12 million tonnes, state agency the Malaysian Palm Oil Council (MPOC) said on Monday.

GLOBAL demand and export for palm oil products will see a strong recovery from April to June 2021, mainly shipped to India and China, both of which are severely under-stocked at the moment, a palm oil analyst said.

Malaysia's palm oil inventories likely inched higher by the end of March as production advanced for the first time in six months, though a surge in exports kept supply tight, a Reuters survey showed on Monday.

Malaysian palm oil futures rose nearly 1.5% on Monday to hit a one-week high, tracking strong rival soyoil and on expectations of sustained tight supply.

Malaysia's crude palm oil (CPO) exports are expected to hit 5.5 million mt in 2021, soaring 24.4% from 2020 levels, as Malaysian CPO became more competitively priced after Indonesia revised its export duty structure, Malaysian Palm Oil Council CEO Wan Zawawi Wan Ismail said April 5.

THE Malaysia Digital Economy Corp (MDEC) and CIMB Islamic Bank Bhd have signed a memorandum of understanding (MoU) on extending an extensive microfinancing programme with an allocation of RM25 million as initial funding package to catalyse the Digital Agriculture Technology (Digital AgTech) in Malaysia.

THE impact of the withhold release orders (WROs) issued by the US Customs and Border Protection (CBP) on Sime Darby Plantation Bhd (SDP) and FGV Holdings Bhd is expected to be minimal as investors have discounted much of the bad news.

Oil prices edged down in early Asian trade on Monday after OPEC+ agreed last week to gradually ease some of its production cuts between May and July.