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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 neutral in 4,085-4,269 ringgit range
16/08/2022 (Business Recorder), Singapore - Palm oil looks neutral in a narrow range of 4,085 ringgit to 4,269 ringgit per tonne, and an escape could suggest a direction.
Palm recoups losses as ringgit hits 5-1/2-year low
16/08/2022 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures rose more than 3% on Tuesday after falling to their worst session in a month, as the ringgit hit its lowest in five-and-a-half years, making the vegetable oil cheaper for buyers holding other currencies.
Fima Corp sees 1Q net profit jump over four-fold
16/08/2022 (The Edge Markets), Kuala Lumpur - Fima Corp Bhd's net profit for the first quarter ended June 30, 2022 (1QFY23) surged more than four-fold to RM11.55 million from RM2.34 million, in line with higher revenue contributions mainly from oil palm production and processing, and the production and trading of security and confidential documents.
State govt terminates MoU with oil palm company
17/08/2022 (Nagaland Post) - State government has terminated the Memorandum of Understanding (MOU) with Andhra Pradesh-based M/s Shivasais Oil Palm Private Limited, which was signed in 2014, after the company failed to set up collection centres within the allotted clusters and purchase fresh fruit bunches (FFBs) from the farmers before setting up the mill.
Expanded exports boost Indonesia's, Malaysia's COVID impact recovery
16/08/2022 (China Daily) - Amid rising global commodity prices, Indonesia and Malaysia have expanded their exports, which has helped with recovery from the impacts of the COVID-19 pandemic, according to analysts.
Palm oil sinks from six-week high on concerns about China demand
15/08/2022 (The Edge Markets), Jakarta - Palm oil tumbled from a six-week high following a decline in soybeans and on prospects of weakening demand in China.
Farmers pleased red palm cooking oil increased product value: minister
15/08/2022 (Antara News), Jakarta - Palm farmers are pleased that their product’s value is increasing as they can now produce red palm cooking oil, according to Minister of Co-operatives and Small and Medium Enterprises Teten Masduki.
INDONESIA TO SET CRUDE PALM OIL REFERENCE PRICE AT $900.52/T FOR AUG 16-31 –OFFICIAL
15/08/2022 (Reuters), Jakarta - Indonesia will set crude palm oil reference price at $900.52 per tonne for the period of Aug. 16-31, up from $872.27 per tonne set for the first half of the month, Musdhalifah Machmud, a senior official at economics ministry said on Monday.
Palm oil: How Okomu, Presco can restore Nigeria’s status as global exporter
15/08/2022 (Nairametrics) - Palm oil prices reached record highs in 2022, driven primarily by the disruption in the sunflower oil market caused by the Russia-Ukraine war and export restrictions imposed by the Indonesian government. Nigeria, though the fifth-largest producer of palm oil in the world, remains a net importer of the vegetable fat. Given that palm oil is widely used in cooking and manufacturing consumer food products in Nigeria, high prices have stoked consumer inflation and pushed the government to encourage local producers to meet the supply gap. While most of the palm oil is sourced from small farmers supplying to the local market, large producers, such as Presco and Okomu, are well placed to benefit from government support, strong international demand, and high prices.
