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Malaysian palm oil futures bounced back on Tuesday as crude prices rose, but gains were limited by fears that the surge in demand and exports would eventually lose steam if there is a second wave of COVID-19 infections.

The world’s biggest trade pact RCEP will be signed later this year, participating countries said in a statement on Tuesday, adding that the coronavirus pandemic had increased the deal’s importance.

Europe has joined the growing number of economies urging Vietnam to resume international flights, as the country appears virtually free of the coronavirus and represents a strong investment destination for those seeking diverse supply chains

Malaysian palm oil futures firmed on Tuesday supported by a surge in exports in June as countries relax their coronavirus-led curbs, but jitters over confusing comments from the White House on the U.S.-China trade deal capped gains.

Vietnam’s economy is export-focused and labor-intensive, with key industries being smartphones and electronic products, textiles, footwear, and agriculture. It is likely the EVFTA will foster the expansion of such industries in terms of capital expenditure and employment.

Global consumption of palm oil will fall this season for the first time on record as a coronavirus-led recession slashes demand for edible oils and fats, leading industry analyst Thomas Mielke said on Monday.

Petroleum is the key to understanding the palm oil market today as it determines the crude palm oil (CPO) price range via the price band and is also a sign of the state of the world economy, plantation expert James Fry of LMC International Ltd said

Malaysia is working on creating better trade relations with India, its top palm oil buyer last year, and addressing some of the issues that have negated the country’s palm oil share in the global market, Malaysian Palm Oil Council (MPOC) chief executive officer Datuk Dr Kalyana Sundram said.

Malaysian palm oil futures slid on Monday as the tropical commodity's global consumption is expected to drop, while production in June is estimated to have risen so far

THE virtual 10th Intercessional Ministerial Meeting today will resume the Regional Comprehensive Economic Partnership (RCEP) negotiations, marking an important milestone towards the expected signing by year-end.

Ministers from Asia-Pacific countries negotiating a sprawling free trade agreement began a videoconference Tuesday, with the focus on whether they can come up with a way to bring India back to the talks.

Palm oil giant Musim Mas is donating $5 million in total to five local organisations, to help those affected by the Covid-19 pandemic