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MARKET DEVELOPMENT
20-10-2021

CPO futures end higher on firmer soybean oil, weaker ringgit on Oct 18

KUALA LUMPUR (Oct 18): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday on the back of solid gains in soybean oil on the Chicago Board of Trade (CBOT) and a weaker ringgit, said a dealer.

MARKET DEVELOPMENT
20-10-2021

Cooking Oil to Become Cheaper as Govt to Pass On Import Duty Cut Benefits

Cooking oil prices are set to become cheaper soon as the central government had asked the states to pass on the benefits of import duty cut â€œimmediately" to consumers this festive season. Earlier, the Union government has scrapped the basic customs duty on crude varieties of palm, sunflower and soyabean oils. The duty charges on refined edible oils has also been cut to control the rising edible oil prices.

MARKET DEVELOPMENT
20-10-2021

Oil exports may suffer after India slashes import duty

Nepal's edible oil exports to India may take a hit as reduced import duty by the southern neighbour may boost overseas buying by Indian traders themselves, insiders said.

MARKET DEVELOPMENT
20-10-2021

Malaysian biodiesel, UCO trade rebounds in August

Malaysian biodiesel exports rose to their highest monthly volume since July 2019 at 66,000t in August, after a short-lived plunge in crude palm oil (CPO) futures narrowed the palm oil-gasoil (POGO) spread in June.

MARKET DEVELOPMENT
20-10-2021

VEGOILS-Palm tracks rival soyoil higher ahead of export data

KUALA LUMPUR, Oct 20 (Reuters) - Malaysian palm oil futures rose on Wednesday, reopening after a one-day public holiday, with prices jumping on firmer soyoil and tight supply worries ahead of Oct 1-20 export data.

MARKET DEVELOPMENT
20-10-2021

Soybeans near 1-week high on strong vegoil demand, wheat rises

SINGAPORE â€” Chicago soybean futures climbed for a fifth consecutive session on Wednesday to trade near the previous sessionâ€™s one-week top, as rising edible oil demand underpinned the market.

MARKET DEVELOPMENT
18-10-2021

Malaysia's 2021 palm oil output seen lower at 18.4 mln T â€“ MPOC

KUALA LUMPUR, Oct 18 - Malaysia's crude palm oil production in 2021 is forecast to decline by 700,000 tonnes to 18.4 million tonnes due to a labour shortage and erratic weather conditions, state agency the Malaysian Palm Oil Council (MPOC) said on Monday.

MARKET DEVELOPMENT
18-10-2021

India Sept veg oil imports balloon 67% on month on record palm oil buying

Indian imports of vegetable oils in September rose 67% month on month to 1.76 million mt as lower duties helped push palm oil imports to a historic high, according to data released by the countryâ€™s vegetable oil trade body on Oct. 13.

MARKET DEVELOPMENT
18-10-2021

Global vegoils prices set to fall in 2022 on strong output recovery â€“Mielke

KUALA LUMPUR, Oct 18 (Reuters) - Global vegetable oil prices, which have hit multi-year highs in recent months, are set to decline during the first half of 2022 due to a strong recovery in production and inventories, leading analyst Thomas Mielke forecast on Monday.

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