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CPO futures end higher on worries over weaker palm oil production
CPO prices set to trade between RM3,800 and RM4,200 per tonne in 2H2024, says MPOC
Palm oil set to rise in 2H as La Nina poses supply risk
CPO prices stay above RM4,000 for second straight day
Soybeans Rallying on Wednesday
03/07/2024 (Barchart) - Soybean trade is pushing higher on Wednesday, with contracts up 8 to 15 cents. Soymeal is 40 cents/ton in the front months, with Soy Oil up 79 to 159 points on the day. There were again zero deliveries vs. July soy meal and July soybean futures overnight. Soy oil contracts stopped the day before were re-issued, with 121 put out. The oldest soybean long is dated June 7. Wednesday will be the last full trade day of the week with Thursday off for the July 4th holiday, and a hard 8:30 am CDT open on Friday.
Olive Oil Market is Dazzling Worldwide and Forecast to 2031
03/07/2024 (Open PR) - The global olive oil market is anticipated to grow at a considerable CAGR of 5.3% during the forecast period (2024-2031). Consumers nowadays pay more attention to label claims while purchasing their oil products. There is an increasing demand for vegetable oils with specific health claims such as high omega-3, MUFA (monounsaturated fatty acids), and vitamin E due to the rising awareness of their positive health attributes. The product is high in MUFA and antioxidant content, which supports the normal functioning of the heart. The growing demand for such nutritious oils heavily contributes to the growth of the market.
UK delegation learns about sustainable practices in Malaysian palm oil sector
03/07/2024 (The Star) - The Malaysian Palm Oil Council (MPOC) hosted a delegation from the United Kingdom, to showcase the industry’s sustainable practices and socio-economic contributions.
No changes expected for CPO price forecasts
03/07/2024 (The Star), Petaling Jaya - TA Research is maintaining a “neutral” call on the plantation sector with no changes to its crude palm oil (CPO) price assumptions of RM4,000 per tonne for 2024 and RM3,800 per tonne for 2025.
Johari suggests reinvesting windfall tax in oil palm replanting
02/07/2024 (Free Malaysia Today), Kuala Lumpur - Plantation and commodities minister Johari Ghani has proposed that the windfall tax derived from the country’s palm oil industry be channelled back to oil palm growers for replanting.
Palm ends higher on rival oils strength, production worries
02/07/2024 (Reuters), Jakarta - Malaysian palm oil futures closed higher, extended gains to a fifth consecutive session on Tuesday, underpinned by concerns about weak production and tracking a rise in rival oils.
India's June palm oil imports rise to six-month high on lower prices
02/07/2024 (The Edge Malaysia), Kuala Lumpur - India's palm oil imports rose by 3% in June from the previous month to reach the highest level in six months on robust demand from refiners for upcoming festivals and as the oil traded at a discount to rival oils, five dealers told Reuters.
Johor Plantations' Q1 2024 net profit more than doubles from higher revenue
02/07/2024 (New Straits Times), Kuala Lumpur - Johor Plantations Group Bhd (JPG) saw a substantial rise in its net profit, surging by 111.5 per cent to RM49.5 million in the first quarter ending March 31, 2024 (1Q24), compared to RM23.4 million in the same period a year ago.
Palm tracks rival edible oils higher
01/07/2024 (Reuters), Jakarta - Malaysian palm oil futures extended gains for the fourth straight session on Monday, underpinned by worries over subdued production and tracking rival edible oils higher.