Berita Arkib

KUALA LUMPUR: Malaysian palm oil futures fell for a fourth straight day on Thursday, hitting a two-year low, as weak sentiment persisted due to concerns about a trade war between China and the United States and on losses in U.S. soyoil.

The large-scale expansion of oil palm has been a major driver of deforestation and biodiversity loss in many areas of the tropics. In Malaysia and Indonesia, where 85 percent of the world’s oil palm is cultivated, rampant industry growth over the past several decades has replaced rainforest with monoculture plantations, devastating wildlife in the process and leading Indonesia to issue bans on further expansion. But as demand for palm oil continues to rise, other countries are looking to pick up the slack.

SINGAPORE (June 22): Palm oil may retest a resistance at RM2,275 per tonne, as suggested by a projection analysis and a falling channel.

KUALA LUMPUR (June 21): Kuala Lumpur Kepong Bhd (KLK), PPB Group Bhd and Genting Plantations Bhd were among the plantation heavyweights that saw a rebound in today's trade after a decline seen in recent trading weeks.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday June 21.

The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange edged down 0.04 percent to 2,262 ringgit ($564.94) per tonne at the end of the trading day, near the previous session's two-year low.

Palm oil may break a resistance at 2,275 ringgit and bounce more to 2,290 ringgit per tonne, as suggested by a projection analysis and a falling channel.

Crude palm oil prices rose 0.51 per cent to Rs 629.20 per 10 kg in futures trade today as speculators enlarged their positions amid firm demand at the spot market.

New Delhi, Jun 20 () Palmolein oil prices declined by Rs 50 per quintal in an otherwise steady wholesale oils and oilseeds market today on easing demand.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday July 20.

MANILA/BEIJING: Prices of commodities from iron ore to rubber tumbled in China on Tuesday, with investor sentiment shaken by an intensifying trade war between Beijing and Washington that could hurt the world's No. 2 economy.

KUALA LUMPUR: Malaysian palm oil futures slumped as much as 3 percent on Tuesday evening to their lowest in two years, tracking weakness in related edible oils.