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Exports of crude palm oil (CPO) from Indonesia fell heavily in January as the novel coronavirus pandemic has drifted global demand.

Indonesia, the world's top palm oil producer, exported 2.39 million tonnes of palm oil in January, including refined products, Indonesia Palm Oil Association (GAPKI) data showed on Thursday.

Malaysian palm oil futures closed lower on Thursday as worries over a disruption in demand deepened after several nations, including top buyer India, enforced lockdowns to stem the spread of the coronavirus

Malaysian palm oil futures closed lower as worries over a disruption in demand deepened after several nations, including top buyer India, enforced lockdowns to stem the spread of the coronavirus

Overall, 2019/20 sales of corn, soybeans, soybean oil, and wheat were above expectations, while soybean meal was towards the high end of estimates.

The COVID-19 pandemic will not have a large impact on the nation’s oil palm industry as it continues to be supported by local and international demand, commercialisation of downstream products, exploration of new markets as well as Government initiatives.

Malaysia welcomes India’s decision not to renew the imposition of the five per cent bilateral safeguard duty on refined palm oil from the country, Plantations Industries and Commodities Minister Datuk Mohd Khairuddin Aman Razali said

All oil palm plantations and mills in Sarawak are required to submit a list of their workers to the state disaster management committee, as part of efforts to curb the spread of Covid-19, says Datuk Amar Douglas Uggah.

Malaysian palm oil futures ended higher on Wednesday driven by supply concerns after Malaysia extended its restricted movement order a day after suspending some palm operations, and as higher soyaoil prices lended support.

The world is finally waking up to the realization that the Coronavirus pandemic could result in a global death toll in the millions – if not higher. Hopefully, that won’t be the case, and a cure or at least a prophylactic medicine can be found soon to end “World War V” (as many are calling the Coronavirus pandemic, with the V standing for Virus)

The report said all palm oil operations in the three districts will be suspended from March 25 to 31, while palm oil processing factories will halt operations from March 27 to 31.

The Halal industry continues to show resilience due to its strong fundamentals amidst the current volatility of crude oil prices and the Covid-19 crisis, says the Halal Development Corporation Bhd (HDC).