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CPO prices seen at RM4,400-RM4,600 on tighter supply
Malaysia’s total palm oil stocks rise 7.48% to 2.82 million tonnes in August — MPOB
Palm retreats from 21-month high on stock outlook, weak exports
Palm slips over 1% on weaker soyoil, bearish MPOB data
Palm oil may hover below 3,916 ringgit
Palm oil faces a strong resistance at 3,916 ringgit per tonne, it may hover below this level or retrace towards 3,686 ringgit.
Edible oil makers urge for lifting of futures trade ban on crude palm oil and soy oil on commodity exchanges
The Solvent Extractors’ Association (SEA) of India, a body of edible oil manufacturers, on Monday demanded lifting of ban on futures trade in soya oil and crude palm oil (CPO) on the commodity exchanges imposed on December, 2021, to ensure risk management and price discovery mechanism.
India: Edible oil imports surge 35% in Aug as share of Russia, Argentina rises
India’s import of edible oil grew 35.29 per cent year-on-year (YoY) to 1.3 million tonnes (MT) in August against 1.01 MT in the same month last year. India imported 1.2 MT of edible oil in July this year, reported The Hindu BusinessLine.
EU lawmakers fail to prioritise food over fuels in midst of global hunger crisis
The European Parliament rejected the opportunity to change the EU’s fuels law (Renewable Energy Directive) which could have ended the use of food crops in biofuels. Oxfam and Transport & Environment have labeled the vote a missed opportunity to ease pressure on the global food crisis.
India's palm oil imports from Malaysia up 49% in August
13/09/2022 (The Edge Markets), New Delhi - India imported 353,556 tonnes of palm oil from Malaysia last month, up 49% from July 2022, as its overall edible oil imports grew 14% month-on-month.
CPO inventory soars on better production
14/09/2022 (The Star Online), Petaling Jaya - Earnings of plantation companies have likely peaked in the second quarter of 2022 (2Q22) as the average crude palm oil (CPO) price of RM4,116 per tonne in July-August is more than one-third lower compared with 2Q22.
Malaysia's palm oil output to improve fuelled by foreign labour intake
13/09/2022 (New Straits Times), Kuala Lumpur - MIDF Research expects palm oil production to improve further subsequent to positive development of foreign labour intake particularly from Indonesia.
India's August palm oil imports jump 87% m/m to 11-month high
13/09/2022 (The Edge Markets), Mumbai/Bengaluru - India's palm oil imports in August jumped 87% from a month ago to the highest level in 11 months, as a sharp drop in prices prompted refiners to ramp up purchases, a leading trade body said on Tuesday.
Malaysia end-Aug palm oil stocks jump to 33-month high
12/09/2022 (The Edge Markets) - Malaysia's palm oil stocks at the end of August climbed to their highest in 33 months, as output rose with peak production season getting underway, palm oil board data showed on Monday (Sept 12).
