Archived News

KUALA LUMPUR, Nov 12 - Malaysian palm oil futures edged up on Thursday, extending the previous session's sharp gains, on concerns over weak November production and gains in rival oil contracts.

CRUDE palm oil (CPO) prices look set to remain high for the remainder of 2020 supported by concerns over tight global edible oil supplies and fears of the cyclical La Nina wet-weather pattern impact on output.

U.S. exports of soybeans to China, which took a beating during height of the trade war, are at their highest monthly total in almost three years, according to the latest monthly data from the U.S. Census Bureau.

PETALING JAYA: Crude palm oil (CPO) prices are expected to trade in the range of RM2,600-RM3,200 a tonne in November, while palm oil stocks are projected to rise by 2% month on month to 1.62 million tonnes at the end of this month, with output and exports down by 5% and 15%, respectively, month on month.

SINGAPORE (ICIS)--Malaysia's palm oil prices continued to hover at eight-year highs after industry data showed a decline in both stock and production in October.

KUALA LUMPUR: Demand for palm oil products has improved in the second half (H2) of 2020 compared to H1 as countries restock edible oil inventories as their lockdowns ease and hotels, restaurants and catering businesses reopen, Affin Hwang Capital said.

Newswise — November 11, 2020 - Have you ever wondered what type of plant is actually used to make vegetable oil? As it turns out, vegetable oil can come from various sources. But most vegetable oil used across the globe comes from a crop called oil palm. Oil palm has the highest oil productivity among all oilseed crops.

Market commentary • Both old and new crop wheat futures closed up £0.25/t yesterday, at £191.35/t (May-21) and £159.60/t (Nov-21). UK markets followed the global market, with Paris and Chicago futures up 1.3% and 1.8% respectively.

The price of edible oil has risen in local markets amid stockpiling by large economies owing to the potential threat of a second wave of the coronavirus and a rising cost of all products worldwide, according to market players.

The price of oilseed rape has surged to a multi-year high as part of a wider upswing in the value of oil-based commodities, bringing some relief to growers after a tough season.

The USDA maintained its 2020-’21 forecast for soybean oil use in biodiesel production in its latest World Agricultural Supply and Demand Estimates report, released Nov. 10. The agency lowered its 2020-’21 projections for soybean production and ending stocks.

KUALA LUMPUR (Nov 11): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher for a third consecutive session, hitting its highest level in eight-and-a-half years, following upbeat sentiment in anticipation of lower production and depleting stockpile in the country.