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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
Vegetable oil used to fuel park maintenance vehicles
23/06/2024 (BBC) - Vegetable oil is being used to fuel park maintenance vehicles in a Worcestershire district.
Malaysian palm oil futures drop
23/06/2024 (Business Recorder), Jakarta - Malaysian palm oil futures fell on Friday, snapping two consecutive sessions of gain, weighed down by weak rival vegetable oils prices and soft export data.
My Say: European experts’ advocacy for MSPO shows its world class
20/06/2024 (The Edge Malaysia) - The mandatory palm oil certification scheme, the Malaysian Sustainable Palm Oil (MSPO), is a world-class standard capable of helping Malaysian exporters and European customers adhere to stringent no-deforestation regulations. This conclusion emerged from a recent webinar organised by the Malaysian Palm Oil Council, featuring experts from the European Forest Institute (EFI) — Dr Jossil Murray and Pierre Bois d’Enghien, a leading palm oil and rubber certification expert and the author of the MSPO EU Deforestation Regulation (EUDR) gap analysis.
May Export Boosted By E&E And Palm Oil, Trend Expected To Continue
20/06/2024 (Business Today) - Malaysia’s total trade rose for the 5th straight month at +10.3%yoy in May-24, underpinned by higher exports and imports. The trade surplus also widened to RM10.1b, improving from the post-pandemic low of +RM7.7b in Apr-24 as monthly growth in exports was faster (+11.8%mom) than imports (+10.3%mom). From year-on-year perspective, exports growth was sustained for the second month in a row at +7.3%yoy (Apr-24: +9.1%yoy), stronger than market expectations. Domestic exports expanded further at +13.2%yoy, sustaining growth since Jan-24 and continue to offset the continued contraction in re-exports (-14.1%yoy).
Palm oil extends gains for second session despite lower export estimates
20/06/2024 (Business Recorder), Jakarta - Malaysian palm oil futures extended gains for a second consecutive session on Thursday despite lower estimates of palm oil exports for June 1-20.
Rising demand for used cooking oil driving fraud
20/06/2024 (Securing Industry) - Used cooking oil (UCO) has become a sought-after commodity, for example as a source of green aviation fuel, but scarcity of supply is leading to fraud with serious environmental consequences.
Edible oil market witnesses a price surge amid global supply disruption
19/06/2024 (Agro Spectrum) - The edible oil market has witnessed a price increase in recent months, driven by multiple global factors. These factors have caused fluctuations in global edible oil markets, leading to price hikes of Rs 50 to 70 per 10 kg in most edible oils. Currently, cottonseed oil stands at Rs 975 per 10 kg, up from Rs 930 per 10 kg three months ago. Soybean oil is now priced at Rs 970 per 10 kg, compared to Rs 910 per 10 kg, and rice bran oil has risen to Rs 950 per 10 kg from Rs 890 per 10 kg over the same period. Similarly, sunflower oil is priced at Rs 980 per 10 kg, up from Rs 900 three months ago and mustard oil stands at Rs 1190 per 10 kg, increased from Rs 1060 per 10 kg three months ago.
Malaysia banks on China’s love of mala hotpot to spice up palm oil exports
19/06/2024 (South China Morning Post) - Malaysia’s palm oil industry is hoping to get a fresh kick from China’s insatiable appetite for mala hotpot as the world’s second-largest producer of the vegetable oil looks to diversify markets for a sector that faces possible sanctions under deforestation rules imposed by the European Union.
Ministry busts supplier for short-weighting 1kg cooking oil packs
19/06/2024 (New Straits Times), Kuala Lumpur - The Domestic Trade and Cost of Living Ministry has uncovered a case involving a supplier suspected of short-weighting cooking oil packs.
