Archived News

U.S. soybean futures fell on Wednesday as sentiment soured after Iran’s missile attack on U.S.-led forces in Iraq, sparking fears of wider war in the Middle East.

India has informally asked palm oil refiners and traders to avoid buying Malaysian palm oil, government and industry sources said on Tuesday, following Malaysian criticism of India’s actions in the Kashmir region and its new citizenship law.

Asian crude palm oil prices are expected to find support in weaker production to be brought about by dry weather in 2020, along with higher biofuel mandates in Indonesia and Malaysia, as the slump to a four-year low in July 2019 fades from market memory

Malaysian palm oil futures recovered from early losses on Tuesday on bargain buying, but gains were capped by worries of a disruption to export shipments in case of an escalation in Middle East tensions.

Indonesia said Tuesday it expects to begin a World Trade Organization process to resolve a dispute with the European Union over palm oil by the end of this month.

At least 50% of the crude palm oil (CPO) windfall tax will be channelled to the biofuel stabilisation fund, which is expected to be set up in the first quarter of this year, Primary Industries Minister Teresa Kok said.

Palm oil prices are up by more than 35 percent over the past three months and now fetches more than K2100 per viss (1.63 kilogrammes).

The mandatory compliance of Malaysian Sustainable Palm Oil (MSPO) Certification for independent smallholders has been extended to next year, after only 9% obtained certification.

The benchmark palm oil contract for March delivery on the BMD closed down 72 ringgit, or 2.3%, at 3,044 ringgit ($742.08).

Edible oil has seen a 20 percent rise in domestic prices in the last one month thanks to their soaring international rates, which will surely take another blow from the escalating crisis in the Middle East

ICE Canadian canola futures closed lower on Friday, with the most-active March contract retreating from a two-month high in sympathy with declines in Malaysian palm oil and US soyaoil futures, traders said.

Pakistan holds a significantly higher ranking on the list of edible oil importing countries (third largest importer of the world), which it shall retain in decades to come due to persistent demographic, agronomic and geographic compulsions.