Latest News

MARKET DEVELOPMENT
21-11-2023

Funds pack on more CBOT beans, meal on Brazil weather and US demand

Speculators ramped up their enthusiasm for Chicago soybeans and soymeal last week as crop concerns for Brazil and a tight U.S. meal market have been raiding the headlines.

LOCAL
21-11-2023

Malaysia to cement presence in China via value-added products, says MPOB

BEIJING, Nov 20 — Malaysia has a huge potential to cement its presence in China’s market for palm oil and palm oil-based value-added products over the next three to five years while reducing further its dependence on the European market, said the Malaysian Palm Oil Board (MPOB).

LOCAL
21-11-2023

2024 State Budget: RM83 mln to be allocated for port devt, navigation safety, riverine projects, says Abg Jo

KUCHING (Nov 20): A total of RM83 million will be allocated for port development, navigation safety and the ongoing riverine projects in the 2024 State Budget, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

WORLD
21-11-2023

BASF: progress on sustainable palm oil initiative

As part of Project Lampung, a collaborative sustainability initiative, Solidaridad, BASF, The Estée Lauder Companies (ELC) and The Roundtable on Sustainable Palm Oil (RSPO) announce that they have made 'real progress in strengthening the sustainable palm oil supply chain and supporting smallholder farmers'.

MARKET DEVELOPMENT
21-11-2023

Palm Oil Prices to Weaken in 2024 on Higher Output

Fitch Ratings-Jakarta/Singapore-20 November 2023: Fitch Ratings expects average crude palm oil (CPO) prices to be significantly lower in 2024, based on our expectations of a higher output of palm and other vegetable oils, due mainly to favourable weather conditions amidst a transition in global weather patterns. We assume Malaysian benchmark CPO prices to average USD650/tonne (t) next year, compared with USD830/t in 2023.

MARKET DEVELOPMENT
20-11-2023

Sarawak minister: Palm oil smallholders encouraged to join Dayak planters group

19/11/2023 (Malay Mail), Miri - More palm oil smallholder farmers in the state are encouraged to join and patronise the Sarawak Dayak Palm Oil Planters Assocation (Doppa).

MARKET DEVELOPMENT
20-11-2023

CPO futures likely to trade sideways with downside bias next week

18/11/2023 (The Star Online), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is anticipated to trade sideways with a downside bias next week, mainly due to the current negative global market sentiment.

OILS & FATS
20-11-2023

DPM Fadillah: China to increase palm oil imports in 2024

19/11/2023 (Malay Mail), Beijing - The official visit of Deputy Prime Minister Datuk Seri Fadillah Yusof to China ended successfully with the country committing to closer cooperation, especially in the fields of agriculture and palm oil commodities.

MARKET DEVELOPMENT
20-11-2023

Domestic Trade Ministry studying possibility subsidised cooking oil sold as used oil

18/11/2023 (The Star Online), Kangar - The Domestic Trade and Cost of Living Ministry is studying the possibility that subsidised cooking oil packets are being sold by certain parties as used cooking oil, causing supply disruption in the market.

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