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Malaysia’s total palm oil stocks rise 7.48% to 2.82 million tonnes in August — MPOB
CPO prices seen at RM4,400-RM4,600 on tighter supply
Palm retreats from 21-month high on stock outlook, weak exports
Palm slips over 1% on weaker soyoil, bearish MPOB data
Palm oil industry initiates voluntary lockdown among employees
Plantation industry players have stepped up measures to help curb the spread of COVID-19 by requiring employees who may have been exposed to the contagion prior to the enforcement of the Movement Control Order (MCO) to self-quarantine
Palm oil demand to remain weak in first-half 2020 due to virus lockdowns — MPOB
A recent heavy slump in palm oil demand is expected to persist through the first half of 2020 as a growing number of countries impose lockdowns to contain the coronavirus outbreak, the Malaysian palm oil industry regulator told Reuters
‘Bring MPOB permission letter during MCO period’
Palm oil industry players have been told to bring along a copy of Malaysian Palm Oil Board’s (MPOB) permission letter when undertaking the transactions and movements of palm oil products during the movement control order (MCO) period
Malaysian palm oil ends 2 percent higher
Malaysian palm oil futures extended gains on Tuesday, in line with rival oils, as prices were bolstered by supply concerns after Malaysia suspended some plantation operations to contain the coronavirus outbreak.
USDA ATTACHE SEES INDONESIA PALM OIL PRODUCTION RISING IN 2020-21
Palm oil production is expected to reach 43.5 million tons in 2020/21 as increased area is partially offset by lower yields resulting from fewer inputs and sub-optimal rainfall during 2018-2019
Covid-19: Sabah halts barter trade, oil palm plantation operation
Barter trade and the operation of several oil palm plantations in Sabah have been halted until further notice in the effort to combat the spread of Covid-19.
MHC Plantations FY19 net profit falls to RM2.51m
Revenue decreased to RM301.36 million from RM343.44 million previously due to the decrease in the selling prices of crude palm oil (CPO), palm kernel and fresh fruit bunches (FFB), it said in an amended filing with Bursa Malaysia today
Tax relief on import of essential items
Under the multi-billion-rupee relief package approved by Prime Minister Imran Khan, the government will abolish duties and taxes on the import and local supply of edible oil, the RBD palm oil, oil seed, pulses, sugar, wheat, rice, medical items/medicines and other essential food commodities having estimated revenue implications of over Rs 15 billion
Lower palm oil exports and prices expected
Plantation operations are expected to be affected by lower exports and prices in the coming months given disruption in the global palm oil supply chain led by the Covid-19 pandemic.
