Archived News

KUALA LUMPUR: Blue chips rallied in late trade on Monday, underpinned by gains in Petronas stocks and telcos, while the ringgit was up nearly half a percent against the US dollar and crude palm oil (CPO) futures were at an eight-year high.

KUALA LUMPUR: Malaysian palm oil futures gained for a fourth session out of five on Monday, holding at a more than eight-year high on expectations of lower stockpiles and stronger crude prices. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed up 46 ringgit, or 1.5%, at 3,227 ringgit ($785.54) a tonne.

It is interesting to see that as canola struggles at resistance, competing oils such as rapeseed and palm oil are showing strength. Since mid-July, rapeseed oil futures FOB Rotterdam have traded from a low of $926.75 USD/metric ton to a high of $985.50/mt as of Sept. 17. On Nov. 6, a gain of $25.50/mt was recorded to break from this range, while a further gain of $5/mt was recorded on Nov. 9. During the past week of Nov. 2, a gain of $43.50/mt USD was realized, the largest weekly move seen since early April.

SYDNEY — U.S. soybean futures edged down on Tuesday as traders banked profits after prices hit a four-year high in the previous session, although losses were held in check by a U.S. harvest report that came in behind market expectations.

PARIS, Nov 9 (Reuters) - Strategie Grains has lowered its forecast of rapeseed imports in the European Union and Britain this season to 5.9 million tonnes from 6.3 million a month earlier, the consultancy said in an oilseed report.

The Indonesian government may rein in its push to increase the use of biodiesel, as it now comes at a higher cost following a fall in crude oil prices and sustained strength in crude palm oil prices.

A team of researchers from Malaysia and Libya recently investigated the effect of Vitamin E, extracted from palm oil, on mice liver cells as its compound is known to have antioxidant effects which protects cells from damage of toxic chemicals produced by metabolic processes

Fitch Ratings-Singapore/Jakarta-08 November 2020: The Indonesian government may rein in its push to increase use of biodiesel as it now comes at higher cost following a fall in crude oil prices and sustained strength in crude palm oil (CPO) prices, Fitch Ratings says. Biodiesel is now much more expensive than regular diesel, and the subsidies drawn from an industry fund to promote biodiesel production and use have been increasing.

ON Nov 3, Americans went to the polls to elect their next president. After a month of tiresome campaigning, the United States presidential election reached its peak, when a projected 161 million voters cast their votes to determine which candidate was the most capable of taking the helm of the world's superpower.

KUALA LUMPUR (Nov 9): The main index at Bursa Malaysia rose 0.37% to stay firmly above the 1,500-point threshold as global stock markets climbed after Joe Biden won the presidential race.

Prices of palm oil and vegetable oil have skyrocketed in major markets across Enugu metropolis, placing both commodities beyond the reach of many consumers.

Global food prices continued rising for the fifth consecutive month in October, led by cereals, sugar, dairy, and vegetable oils, according to a new report from the Food and Agriculture Organization of the United Nations.