Archived News

KUALA LUMPUR (April 22): Malaysia does not see the production of synthetic palm oil by US start-up company, C16 Biosciences, as a threat to natural palm oil supply chain, particularly when produced under the best agricultural practices and sustainability standards.

KUALA LUMPUR: Malaysian palm oil futures inched higher on Wednesday on bargain hunting, after slumping to a near nine-month low in the previous session, but gains were capped by continued weakness in crude oil prices.

Malaysian palm oil futures closed up on Wednesday tracking higher soyabean oil prices, after slumping to a near nine-month low in the previous session, but gains were capped by a retreat in crude oil prices.

KUALA LUMPUR, April 23 (Reuters) - Malaysian palm oil futures rose on Thursday, tracking gains in crude and rival soybean oil, but gains were limited by worries over rising stockpiles as the coronavirus pandemic curbs global demand.

THE government deferred the implementation of the national B20 Biodiesel Programme due to lower crude palm oil (CPO) demand and to focus resources in response to the Covid-19 outbreak.

The government should not issue licenses for import of refined palm oil to companies to protect local refiners and oilseed growers, said edible oil associations and analysts.

Indonesia’ palm oil exports and its derivatives dropped to 4.93 million tonnes in the first two months of 2020 from 6.6 million tonnes in the same period last year due to the COVID-19 pandemic’s impact, the Indonesian Palm Oil Producers Association (GAPKI) said on April 21.

KUALA LUMPUR: The palm oil market is set to miss out on a key high-demand period in 2020 as coronavirus-driven lockdowns during Ramadan dent demand in key importing countries such as India, Pakistan and Bangladesh.

KUALA LUMPUR/MUMBAI: The palm oil market is set to miss out on a key high-demand period in 2020 as coronavirus-driven lockdowns during the Muslim holy month of Ramadan dent demand in key importing countries such as India, Pakistan and Bangladesh.

Indonesia’s exports of palm oil and its refined products, including oleochemicals and biodiesel, were at 2.54 million tonnes in February, Indonesia Palm Oil Association (GAPKI) said in a statement on Tuesday.

Malaysian palm oil futures plunged 7.5% on Tuesday to its lowest level since last August in a reaction to US crude oil futures trading negative for the first time in history the day before, as global demand for both vegetable and mineral oils tumbles.

KANSAS CITY, MISSOURI, US — After a mid-March bounce from contract lows, soybean futures in April dropped to trade in a relatively narrow range whose midpoint was about 30¢ a bushel above the low posted on March 19 (July future) but about $1.30 a bushel below recent highs posted on Jan. 2. Ample US and world supplies weighed on soybean futures, and the spread of the coronavirus seemed only to add to the pressure. Soybean futures were expected to remain under pressure in coming weeks as planting of the 2020 crop gets underway, according to analysts interviewed by Milling & Baking News, a sister publication of World Grain.