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CPO price forecast to climb for rest of the year
CPO FUTURES HIT TWO-YEAR HIGH ON BULLISH SENTIMENT, STRONG EXPORTS
CPO price strength could dissipate through end-2024, says BMI
Positive growth for plantation sector, amid rising CPO prices
Ruifeng Wealth Management and INDUK KUD Sign Agreement to Build Palm Oil Mills and Cooking Oil Refinery to Support Indonesia’s National Meal Program
09/11/2024 (Malay mail), Jakarta - Media OutReach Newswire - 9 November 2024 - In a significant move to strengthen Indonesia's National Free Meals Program, a cornerstone of President-elect Prabowo Subianto's campaign, Ruifeng Wealth Management Pte Ltd has signed a Memorandum of Agreement (MoA) with INDUK KUD, Indonesia's largest agriculture cooperative organization, to establish up to five palm oil mills and cooking oil refineries. President Prabowo is also the Chairman of INDUK KUD's Development Council, has allocated an annual budget of approximately US25.6 billion to combat childhood stunting and malnourished students across Indonesia. The collaborative effort between Ruifeng Wealth Management and INDUK KUD will ensure the production and supply of high-quality cooking oil for the country's national meal program.
Indonesia chief economic minister confident palm oil production can be boosted
07/11/2024 (The Star), Nusa Dua - Indonesia's chief economic minister Airlangga Hartarto (pic) said on Thursday (Nov 7) he is confident palm oil production can be boosted in coming years to meet the country's rising demand for biofuel.
Vegetable oil prices expected to climb
07/11/2024 (The Western Producer), Saskatoon - Vegetable oil prices will continue to climb during the crop year, according to an industry analyst.
Palm oil prices will drop from January, say Surat Thani farmers
07/11/2024 (The Nation) - Oil palm growers in Surat Thani recently assured a senior Commerce Ministry official that the price of cooking palm oil will drop in January once the fruit yield returns to normal.
CPO FUTURES ENDS HIGHER AMID WEAKER PRODUCTION OUTLOOK
07/11/2024 (Bernama), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives ended higher on Thursday amid a weaker production outlook in Malaysia, a trader said. Palm oil trader David Ng said the stronger expected demand for palm oil with lndonesia looking to increase its biofuel mandate also lifted market sentiment.
Indonesia adopts DNA tracing for palm oil seed quality
07/11/2024 (Antara), Bali - The Ministry of Agriculture is implementing DNA tracing technology to identify parent palm oil trees and preserve their seeds for planting, aiming to sustain productivity in the national palm oil industry.
07/11/2024 (New Straits Times), Kuala Lumpur - Hong Leong Investment Bank Bhd (HLIB Research) anticipates positive growth for Malaysia's plantation sector in the third quarter of 2024 (3Q24), driven by a surge in crude palm oil (CPO) prices.
India’s Oct palm oil imports hit 3-month high on festive demand
06/11/2024 (Free Malaysia Today), Mumbai - India’s palm oil imports surged 59% in October to a three-month high compared to the previous month, as refiners boosted purchases to replenish stocks depleted by lower-than-usual imports in recent months and strong festive demand, five dealers said.
Brazil’s Grupo Potencial set to invest US$109M in biodiesel plant
06/11/2024 (Oils & Fats International) - Brazil’s privately owned Grupo Potencial is planning to invest BRL 600M (US$108.86M) to increase biodiesel output at one of its plants, according to a Reuters report.
