Archived News

MUMBAI (Oct 3): Bursa Malaysia Derivatives Exchange (BMD), known for offering the most liquid crude palm oil futures in the world, is planning to launch soyoil futures in the first quarter of the next year, a senior exchange official said.

Indonesia’s Palm Oil Association (GAPKI) expects a 5% increase in the country’s output of the commodity thisyear and sees stocks at around 3.2 million metric tons by the year’s end, secretary general M. Hadi Sugeng told reporters on Tuesday.

KUALA LUMPUR (Oct 3): Malaysian oil palm planters should focus on improving production yields by accelerating replanting activities to help offset the cost hikes, according to CIMB Investment Bank Bhd plantation analyst Ivy Ng Lee Fang, who is also the head of research.

KUALA LUMPUR, Oct 3 (Reuters) - Malaysia is considering expansion of its B10 biodiesel programme, which requires the mandatory use of 10% palm oil, to the industrial sector, its plantations and commodities minister said on Tuesday.

Argentina’s government said on Monday it will extend a program to incentivize grains exports in a push to shore up the country’s meager foreign reserves, as it looks to meet targets set by the International Monetary Fund amid an economic crisis.

ANKARA, TURKEY — Sunflowerseed production in Turkey is forecast to decline by 20% in marketing year 2023-24 due to a persistent drought in the country’s most important sunflower-producing region, according to a Global Agricultural Information Network (GAIN) report from the US Department of Agriculture’s Foreign Agricultural Service (FAS).

Cargo surveyor Societe Generale de Surveillance (SGS) estimates exports of Malaysian palm oil products for September at 1,318,765metric tons, according to LSEG.

JAKARTA: Malaysian palm oil futures traded lower on Monday, extending losses for a second session trailing weakness in Chicago soyoil as the Chinese closed for a long holiday.

KUALA LUMPUR: Stakeholders in the oil palm industry must work collectively towards sustaining the prosperity of the critical facets of the industry, said Deputy Prime Minister and Minister of Plantation and Commodities Datuk Seri Fadillah Yusof (pix).

KUALA LUMPUR (Oct 2): The Malaysian Palm Oil Association (MPOA) has shared its wishlist for Budget 2024, including a review of the windfall profit levy, reinvestment allowance for intensifying oil palm replanting, pre-requisite for sufficient workers, mechanisation, levies as well as support for sustainability initiatives.

KUALA LUMPUR (Oct 2): While Malaysia’s crude palm oil (CPO) production up to end-August this year lags behind the same period last year, the country’s annual CPO output could still be marginally higher this year than last, amid “fairly good” weather.

After a contested Monday session, the soybean futures closed 2 to 6 cents in the black to start the new month of positioning. Soymeal futures closed off their lows, but were still down by $6 to $8.30/ton. Soybean Oil futures closed 146 to 241 points higher on the day.