Latest News

MARKET DEVELOPMENT
24-11-2022

Palm Oil Prices to Weaken in 2023 on Higher Output

24/11/20222 (Hellenic Shipping News) - Fitch Ratings expects average crude palm oil (CPO) prices to be significantly lower in 2023, as industry output is likely to be higher. Lower prices should weaken Asian producers’ margins and EBITDA, and result in higher leverage. However, EBITDA should be supported by higher fruit yields and oil output. The free cash flow (FCF) profiles of producers should also benefit from a release of working capital.

OILS & FATS
24-11-2022

Advancing oil palm industry

24/11/2022 (New Straits Times) - THE Advanced Biotechnology and Breeding Centre (ABBC), a division of the Malaysian Palm Oil Board (MPOB), is now the largest oil palm germplasm collection centre in the world for conservation and research based on oil palm breeding and biotechnology.

OILS & FATS
24-11-2022

KLK, Batu Kawan's 4Q earnings dragged by lower investment holding and manufacturing profits

23/11/2022 (The Edge Markets) - Batu Kawan Bhd and its 47.74%-held Kuala Lumpur Kepong Bhd (KLK) reported lower earnings for the fourth quarter ended Sept 30, 2022 (4QFY2022), mainly dragged by significantly lower investment holding and manufacturing profits.

OILS & FATS
24-11-2022

Kuala Lumpur Kepong Bhd net profit retreats to RM2.17b in FY2022

23/11/2022 (Malay Mail) - Kuala Lumpur Kepong Bhd’s (KLK) net profit dropped to RM2.17 billion in the financial year ended September 30, 2022 (FY2022) from RM2.26 billion posted in FY2021 due to investment losses.

MARKET DEVELOPMENT
23-11-2022

CPO prices to be supported at current levels in near term, say analysts

22/11/2022 (The Edge Markets) - ANALYSTS are expecting crude palm oil (CPO) prices, which have risen in recent weeks, to hover at its current level in the near term amid seasonality factors, competitive pricing compared with the soybean oil market, decent export performance, ongoing geopolitical tensions and waiver of Indonesia’s CPO export levy.

OILS & FATS
23-11-2022

Boustead Plantations expects continued volatility in palm oil prices

22/11/2022 (The Star Online), Kuala Lumpur - Following a decline in profitability in the recent quarter, Boustead Plantations Bhd said the prices of palm oil are expected to remain highly volatile for the rest of the year due to high stock levels in Malaysia and Indonesia.

OILS & FATS
23-11-2022

Human rights and environment become key in procuring palm oil

22/11/2022 (The Japan Times) - Japanese companies are facing increasing calls for eliminating human rights violations and giving adequate consideration to environmental protection when building and operating supply chains, ranging from the procurement of raw materials to the manufacture and sale of products.

MARKET DEVELOPMENT
23-11-2022

Fitch Solutions trims palm oil short-term price forecasts

22/11/2022 (Fitch Solution), Kuala Lumpur - Fitch Solutions Country Risk and Industry Research on Tuesday trimmed palm oil short-term price forecasts on the easing of global edible oils market and weaker demand outlook.

MARKET DEVELOPMENT
23-11-2022

Boustead Plantations slips into red in Q3 on lower palm product prices

22/11/2022 (New Straits Times), Kuala Lumpur - Boustead Plantations Bhd posted a net loss of RM352,000 for its third quarter (Q3) ended Sept 30, 2022 versus a net profit of RM95.56 million in the same period last year.

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