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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
Farm robots help plug worker shortage in Malaysian palm oil
01/07/2024 (Bloomberg) - A drone buzzes between trees on a humid Malaysian morning, monitoring the oil palm fruits as they ripen. Self-driving trucks rumble over the vast plantation’s uneven ground, laying fertilizer and picking up the densely packed harvested bunches.
Black Sea sunflower oil prices decline as veg oil complex applies pressure
01/07/2024 (Fastmarkets) - This came with an ample supply of soybean oil, a relatively significant price differential between soybean oil and sunflower oil, and falling prices for other vegetable oils, combining to put pressure to the entire complex and encouraging buyers to turn to alternatives.
Soybeans Gain Strength Throughout Monday
01/07/2024 (Barchart) - Soybeans found some assistance from bean oil on Monday, as futures were up 7 to 12 ½ cents across most contracts. Soymeal were up $3 to $5.20/ton in the nearbys, but down 90 cents to $3.10 across the other contracts. Soy Oil futures were up 168 to 206 points on some help from crude oil.
‘Stress test’: Olive oil producers adapt to climate change as production falls and prices soar
01/07/2024 (Malay Mail), Madrid - Olive oil producers are improving irrigation and seeking new varieties of olives to safeguard production as climate change upends harvests, causing prices of the staple of the Mediterranean diet to soar.
CPO Reference Gets Escalated: OF and Levy Would be US$ 118 per Ton in July 2024
01/07/2024 (InfoSAWIT), Jakarta - Reference price of crude palm oil oil ( CPO) to decide out fee (OF) and tariff on Palm Oil Oil Plantation Fund Management Agency (PFMA) or known as levy in July 2024 would be US$ 800,75/metric ton (MT). The numbers got escalated US$ 21,93 or 2,82 percent from June 2024 that were US$ 778,82/MT.
Malaysia and China’s 50-year palm oil partnership: From inception to global impact
30/06/2024 (Malay Mail), Putrajaya - As 2024 marks five decades of diplomatic relations between Putrajaya and Beijing, it’s noteworthy that Malaysia holds the distinction of being China’s inaugural palm oil exporter, a milestone achieved in the mid-1980s.
Sabah to produce tocotrienols from palm oil by-product
30/06/2024 (The Borneo Post), Kota Kinabalu - Malaysia’s first facility utilizing refined palm oil by-products to produce tocotrienols is under construction in Kunak.
Soaring olive oil prices hurt sales of ‘liquid gold’ in Mediterranean heartland
28/06/2024 (Financial Times) - Sales of olive oil have plunged in its Mediterranean heartland as Spaniards and Italians shunned their most beloved culinary ingredient following steep price rises.
Biodiesel threatens Brazilian soybean oil exports
28/06/2024 (Energy News) - Brazil, the world’s second largest soybean oil exporter, could see its exports come to a halt in the next few years due to growing domestic demand for biodiesel. Biodiesel blending mandates are reaching record levels, increasing domestic consumption of soybean oil, the main ingredient in this biofuel. Biodiesel is developing rapidly in Brazil, and the country imports foreign biodiesel alongside its own production.