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CPO prices seen at RM4,400-RM4,600 on tighter supply
CPO Futures End Higher, Tracking Stronger Soybean Oil Prices
Palm retreats from 21-month high on stock outlook, weak exports
Malaysia’s total palm oil stocks rise 7.48% to 2.82 million tonnes in August — MPOB
Hap Seng Plantations FY22 net profit down 6% to RM210.31mil
22/02/2023 (The Star Online), Kuala Lumpur - Hap Seng Plantations Holdings Bhd’s net profit for the financial year ended Dec 31, 2022 (FY2022) fell six per cent to RM210.31 million from RM224.02 million in the same period for FY2021.
Arawana’s profit falls a second year as costlier commodities erode margins at China’s largest cooking oil processor
22/02/2023 (South China Morning Post) - Yihai Kerry Arawana Holdings said its profit declined for the second year, as higher material costs stoked by the Russia-Ukraine war undermined margins at China’s biggest cooking oil processor.
RM446m channelled to rubber smallholders under IPG Scheme since 2015: Fadillah
22/02/2023 (The Sun Daily), Kuala Lumpur - The Federal Government has channelled RM446 million to 207,128 rubber smallholders nationwide through the Rubber Production Incentive (IPG) scheme from September 2015 to Dec 31, 2022, said Deputy Prime Minister Datuk Seri Fadillah Yusof .
China recovery to offset tepid global demand
22/02/2023 (The Star Online), Petaling Jaya - Malaysia’s exports are expected to see slower growth amid a weaker global economy this year.
Soybeans Slip Lower On Wednesday
23/02/2023 (Barchart) - Soybeans were down ¼ to 9 ¼ cents out to the summer 2024 contracts, with a few deferred contracts beyond that up ¼ to 2 ¾ cents. Meal was $3.20 to 5.10 lower in the front months, to add pressure to the complex. Soy oil was up 5 to 10 points in the front months.
Palm Oil Producers Only Reach 43.56 Percent of DMO Target
21/02/2023 (Tempo.Co), Jakarta - The Indonesian Trade Ministry’s acting director general of domestic trade, Kasan, said the oil palm domestic obligation market (DMO) realization had only reached half of the target. The government has increased the palm oil DMO to 450,000 tons to produce cooking oil sold in bulk and under the Minyakita brand.
KPPU Talks About Hoarding of Cooking Oil Minyakita, Shortage in Markets
21/02/2023 (Tempo.co) - The Business Competition Supervisory Commission (KPPU) chairperson M Afif Hasbullah revealed a number of findings of hoarding of bulk cooking oil in simple packaging dubbed Minyakita reaching hundreds of tons.
Palm oil gains for second week on weaker ringgit
20/02/2023 (Business Recorder), Jakarta - Malaysian palm oil futures hit their highest close in more than six weeks on Friday and posted a second straight weekly gain, supported by stronger rival edible oils on the Dalian exchange and a weaker ringgit.
Palm oil down after three-day rally on weaker rival oils
22/02/2023 (Business Recorder) - Malaysian palm oil futures ended lower on Tuesday on profit-taking after a three-day rally tracking weakness in rival edible oil prices, although concerns over potentially lower production limited losses.
