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Malaysian palm oil futures climbed more than 3% on Tuesday, tracking gains in rival soyaoil and boosted by forecasts of lower production as a La Nina weather pattern brought heavy rains

THE announcement by the US Customs and Border Protection (CBP) on Sept 30 that palm oil and palm oil products by Felda Global Ventures (FGV) is now subject to a Withhold Release Order (WRO), which effectively means their detention at entry ports, has caught Malaysia by surprise.

The Commerce Ministry’s Department of Trade Negotiations (DTN) is promoting the export of orchids under free-trade agreements (FTAs) with 17 countries so the plants are exempted from import tax.

A study on the labour situation in the country's oil palm sector is expected to be announced soon after the Cabinet approval, the Malaysian Palm Oil Board (MPOB) said

The share of soybean oil and sunflower oil in the basket edible oils imported by India is likely to go up during the current oil year (November 2019-October 2020), if the trend of last few months is any indication

Malaysia’s palm oil stocks are likely to have dipped 2% month-on-month (m-o-m) to 1.67 million tonnes at end-September 2020 as higher exports more than offset rising supply, said CGS-CIMB Research in a note today.

Rising palm oil futures overseas pushed U.S. soybean futures higher Tuesday. "Malaysian palm oil appreciated over 3.5% overnight... in part to a report that palm oil prices will be higher amid lower production

Analysts are still cautious on the sustainability of crude palm oil (CPO) prices, having reached a high of RM3,100 per metric tonne (MT) in mid-September 2020, from the year-to-date low of RM2,000 per MT in May 2020 and the highest level since January 2020, but now are settling lower at circa RM2,850 per MT.

n the last quarter 2019, the government announcement on Pak-China Free-Trade Agreement (FTA) stated that effective January 1, 2020, the new FTA will allow Pakistan a duty-free access to the Chinese market for many textile and apparel categories, including cotton yarns, woven & knitted garments, and home textiles.

Malaysian palm oil futures ended higher on Monday, tracking soyaoil gains and a rebound in oil prices, while a forecast of heavy rains and thunderstorms in the country also aided prices.

Seputeh MP Teresa Kok has urged US authorities to reassess the import ban issued against palm oil and palm oil products from FGV Holdings Bhd by dispatching a special investigation team to Malaysia.

It is unlikely that the issue relating to the US Customs and Border Protection (CBP) ban on FGV Holdings Bhd’s palm oil to be resolved soon, as it is unclear as to which part of FGV’s labour practices triggered the ban, according to CGS-CIMB Research.