Berita Arkib

Malaysian palm oil futures rebounded from losses to gain over 1 per cent at the end of the trading day on Tuesday, snapping six days of losses, lifted by profit-taking and gains in soyoil on the Chicago Board of Trade (CBOT).

The focus on more intensive trade relations with African countries came after Indonesian President Joko Widodo visited the Indian Ocean Rim Association (IORA) Summit in March 2018. The IORA is an international organization, consisting of coastal states bordering the Indian Ocean, that aims to promote co-operation and closer interaction among its 21-member nations. Indonesia joined the IORA in 1997.

In the edible oils market, volume jumped on renewed demand led by strong rumour of duty hike amid weak rupee which makes imports costlier at lower price level.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Tuesday April 17.

Malaysian palm oil futures fell to a one-month low on Monday evening, recording a sixth straight day of losses on expectations of slowing demand growth and tracking losses in related edible oils.

The Council of Palm Oil Producing Countries (CPOPC), a palm oil board led by Indonesia and Malaysia, said British supermarket chain Iceland's decision to remove palm oil from its own-brand food products misleads consumers.

Malaysian oil palm planters’ earnings in the first quarter of this year will likely be weighed down by lower crude palm oil (CPO) and palm kernel (PK) prices.

The Council of Palm Oil Producing Countries (CPOPC), a palm oil board led by Indonesia and Malaysia, said British supermarket chain Iceland’s decision to remove palm oil from its own-brand food products misleads consumers.

India’s palm oil imports for the five-month period to March 2018 increased to 3.79 million tonnes from 3.55 million tonnes a year earlier, thanks to Malaysia’s export duty suspension.

Crude palm oil prices weakened by 0.45 per cent to Rs 642 per 10 kg in futures market today as speculators reduced exposure, driven by subdued demand in the spot market against adequate stocks position.

Malaysian palm oil futures fell to a one-month low on Monday evening, recording a sixth straight day of losses on expectations of slowing demand growth and tracking losses in related edible oils.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday April 16.