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Malaysian palm oil futures extended gains on Tuesday, in line with rival oils, as prices were bolstered by supply concerns after Malaysia suspended some plantation operations to contain the coronavirus outbreak.

Palm oil production is expected to reach 43.5 million tons in 2020/21 as increased area is partially offset by lower yields resulting from fewer inputs and sub-optimal rainfall during 2018-2019

Barter trade and the operation of several oil palm plantations in Sabah have been halted until further notice in the effort to combat the spread of Covid-19.

Revenue decreased to RM301.36 million from RM343.44 million previously due to the decrease in the selling prices of crude palm oil (CPO), palm kernel and fresh fruit bunches (FFB), it said in an amended filing with Bursa Malaysia today

Under the multi-billion-rupee relief package approved by Prime Minister Imran Khan, the government will abolish duties and taxes on the import and local supply of edible oil, the RBD palm oil, oil seed, pulses, sugar, wheat, rice, medical items/medicines and other essential food commodities having estimated revenue implications of over Rs 15 billion

Plantation operations are expected to be affected by lower exports and prices in the coming months given disruption in the global palm oil supply chain led by the Covid-19 pandemic.

Oil palm smallholders travelling to their estates should produce their Malaysia Palm Oil Board (MPOB) license as supporting documents if stopped for checks at MCO road blocks

The benchmark palm oil contract, for June delivery, on the Bursa Malaysia Derivatives Exchange was down 3.1 per cent at 2,217 ringgit per tonne by 0240 GMT. It gained 3.2 per cent on Friday

Heavily battered along with the broader market, plantation stocks on Bursa Malaysia now appear attractive in terms of valuation.

The situation is gloomy on the demand front as big importers like India, Europe and the Middle East have struggled with lockdown measures, said Anilkumar Bagani, research head at Sunvin Group, a Mumbai-based vegetable oil broker

ndia’s edible oil imports could come down by 5 per cent this year to 14.2 million tonnes as weakening rupee combines with supply chain disruption due to outbreak of coronavirus and reduced consumption by the low-income group of consumers, whose daily wage may get affected due to lockdown in many parts of the country.

JAKARTA. PT Provident Agro Tbk (PALM) membukukan pendapatan turun lebih dari dua kali lipat di sepanjang 2019 menjadi Rp 189,16 miliar dan masih merugi Rp 70,72 miliar