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Windfall profit levy review, oil palm replanting among agenda at MPOA’s inaugural conference
Indonesia, Malaysia push biofuel to offset palm oil price downturn
Palm closes lower ahead of August supply-demand data
El Nino may cause CPO prices to hit, even exceed RM4,000 per tonne in 2H2023 — Sime Darby Plantation MD
MP Evans dragged down by lower palm oil prices
11/09/2023 (Investors Chronicle) - Crude palm oil (CPO) prices soared in the aftermath of Russia’s invasion of Ukraine as concerns raged about vegetable oil supply. While prices remain elevated against historic levels, a 27 per cent year-on-year slowdown in the average mill-gate price to $755 (£604) per tonne dented Indonesia-focused palm oil producer MP Evans’ (MPE) revenue by over a fifth. A low-cropping period and a doubling of fertiliser costs also hurt, as the gross margin fell by a painful 21 percentage points to 17 per cent and operating profits contracted by 62 per cent.
Malaysia’s palm oil stocks up 22.54pc in August
11/09/2023 (Malay Mail), Kuala Lumpur - Malaysia’s total palm oil stocks surged by 22.54 per cent to 2.12 million tonnes in August 2023 from 1.73 million tonnes in the preceding month, according to the Malaysian Palm Oil Board (MPOB).
Malaysian palm oil stockpile seen climbing in coming months after August jump
11/09/2023 (The Edge Malaysia), Kuala Lumpur - Malaysia’s palm oil stockpile is seen to climb further in the coming months as production enters a seasonally higher period, following a higher than expected jump in August.
Malaysia’s palm oil reserves rise most in two years on output jump
11/09/2023 (The Edge Malaysia) - Palm oil inventories in Malaysia surged the most in two years to cross the two-million-tonne level on stronger-than-expected production and weaker exports in the second-biggest grower.
VEGOILS-Palm opens up ahead of MPOB data after weekly drop
11/09/2023 (Nasdaq) - Malaysian palm oil futures opened higher on Monday after a drop last week ahead of the much-anticipated Malaysian Palm Oil Board (MPOB) data later in the day, supported by stronger Dalian and Chicago Board of Trade (CBOT) rival oils.
09/09/2023 (The Edge Malaysia), Kuala Lumpur - The Malaysian Palm Oil Association (MPOA) is set to hold its first ever National Palm Oil Conference 2023 next month, for stakeholders to discuss crucial issues and emerging trends in the palm oil sector.
MPOB: Global tocotrienol market to grow 7.2pc by 2024
10/09/2023 (Malay Mail), Kuala Lumpur - The global tocotrienol market is expected to grow at a compound annual growth rate (CAGR) of 7.2 per cent by 2024 from 530.4 tonnes in 2015, with the Asia Pacific region being the biggest market, according to the Malaysian Palm Oil Board (MPOB).
Kelantan KPDN reduces smuggling of 1kg cooking oil polybags to Thailand
10/09/2023 (New Straits Times), Kota Baru - Ops Bersepadu caried out between Domestic Trade and Cost of Living Ministry (KPDN) and other agencies managed to reduce the leakage of subsidised cooking oil in 1kg polybags to the neighbouring country.
Palm oil: Amidst tycoon onslaught, North-East farmers discuss impact on biodiversity
10/09/2023 (Counter View) - The northeastern states of India account for about three per cent of the total 1.4 billion population of India. In 2021, Prime Minister Narendra Modi unveiled the National Mission on Edible Oils – Palm Oil, with a total outlay of Rs11,040 crore. The plan is to bring 6.5 lakh hectares under oil palm cultivation, of which 3.2 lakh hectares would be in the northeast. Brands such as Godrej’s Agrovet, Patanjali’s Ruchi Soya and 3F have been planning entry into oil palm cultivation in the northeast. The push for acquiring land for oil palm cultivation is also seen as the backdrop to the ongoing violence in Manipur.
