Berita Arkib

BRUSSELS (June 14): EU negotiators on Thursday agreed to phase out the use of palm oil in transport fuels from 2030, setting up a clash with producer countries such as Malaysia and Indonesia.

SINGAPORE (June 18): Palm oil may revisit its June 13 low of RM2,300 per tonne, as a bounce from this level could have completed.

Malaysian palm oil futures, which ended lower on Monday, saw their sharpest decline in a week at the close of trade , on the back of weaker export demand and a fall in crude oil prices. Palm oil prices are impacted by movements in the energy market, as it is used as feedstock to make biodiesel. Oil prices fell on Monday after China threatened duties on American crude imports and ahead of an OPEC meeting, though US Brent crude recovered its losses to gain later in the day. India last week raised import taxes on crude and refined soyoil, sunflower oil and canola oil to the highest level in over a decade in a bid to support local farmers. The hike is expected to increase palm oil demand in the coming months by making it more competitive and level playing field in the Indian market. Malaysian shipments of the edible oil in the first half of June declined 7.2 percent versus the corresponding period in May, inspection company AmSpec Agri Malaysia said on Monday. Cargo surveyor Societe Generale de Surveillance reported on Monday evening that Malaysian palm oil exports declined 9.6 percent in the same duration.

PETALING JAYA: Malaysia’s economy is much more diversified today contrary to the common view that that the country is reliant on commodities, said Standard Chartered Global Research.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday June 13.

Malaysian palm oil futures extended losses to a five-week low on Tuesday, weighed down by the government's decision to maintain export tax for July and on lacklustre demand.

Malaysia’s crude palm oil (CPO) inventory for June has been projected by analysts to either be flat or even decline, while also expecting limited likelihood of a strong demand surge for Malaysian palm oil going forward.

Malaysian palm oil futures dropped more than 1% to their lowest in nearly two years on Tuesday, weighed down by the government's decision to maintain an export tax for July and due to lacklustre demand.

Malaysian palm oil futures extended a downward trend, closing 0.3 per cent lower on Monday as weak demand weighed.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday June 12.

KUALA LUMPUR: Affin Hwang Capital Research maintained its neutral rating on the plantation sector following the sector's first on-year crude palm oil production decline since June 2017.

PARIS: France wants to cap and progressively cut palm oil imports and will propose to do so at a European level, a junior minister said on Monday, as farmers block refineries across the country in protest against use of the vegetable oil in biofuels.