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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
How can Indonesia better protect the rights of oil palm smallholder farmers?
24/08/2022 (Indonesia At Melbourne) - The recent collapse in oil palm prices to some of the lowest levels ever seen has hit smallholder farmers hard. In April, President Joko “Jokowi” Widodo announced a ban on the export of crude palm oil (CPO) and its derivatives, in an attempt to address rapidly escalating cooking oil prices in the domestic market. The policy, which was quickly reversed in May, resulted in a drastic fall in the price of palm fruit, but had little impact on cooking oil prices.
Palm oil may retest resistance at 4,269 ringgit
23/08/2022 (Business Recorder), Singapore - Palm oil may retest a resistance at 4,269 ringgit per tonne, a break above which could lead to a gain to 4,452 ringgit.
IOI expects weaker financial performance in FY23
23/08/2022 (The Star Online), Kuala Lumpur - IOI Corp Bhd, which saw its net profit jump 50.7% to RM541.8mil in the second quarter ended June 30, expects its financial performance for the financial year ending June 30, 2023 (FY23) to be lower than for FY22 but remain healthy.
CI Holdings 4Q profit up 13% on stronger palm olein prices, US dollar
23/08/2022 (The Edge Markets), Kuala Lumpur - CI Holdings Bhd's net profit grew 13% in the final quarter of fiscal year ended June 30, 2022 (4QFY22) on the back of stronger revenue, driven by higher palm olein prices and a stronger US dollar against the ringgit.
CPO futures to see profit-taking activity
22/08/2022 (The Star Online) - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trend downward this week on profit-taking activities.
Higher CPO, palm kernel drive TSH 2Q earnings to RM57 mil
22/08/2022 (The Edge Markets), Kuala Lumpur - TSH Resources Bhd’s net profit for the second quarter ended June 30, 2022 (2QFY22) rose 44.37% to RM57.34 million from RM39.72 million in the same period last year, as its palm product segment benefited from higher average selling prices of crude palm oil (CPO) and palm kernel (PK).
CPO futures end higher on Aug 22 on better demand
22/08/2022 (The Edge Markets), Kuala Lumpur - The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives (BMD) closed higher on Monday (Aug 22) on better demand for the golden fruits.
VEGOILS-Palm extends gains on rival oils’ strength, weaker ringgit
23/08/2022 (Hellenic Shipping News) - Malaysia’s benchmark palm oil futures extended gains to a second session on Monday, helped by stronger vegetable oils, a weaker ringgit, and supportive export data.
Fitch Solutions maintains palm oil average price this year at 1,160 USD per ton
22/08/2022 (China.org.cn) - Fitch Solutions on Monday maintained its palm oil average price forecast this year at 5,200 ringgit (1,160 U.S. dollars) per ton, seeing a slight recovery in palm oil prices from its recent decline.
