Berita Arkib

11/01/2023 (Business Korea) - POSCO International will establish a palm refinery in Indonesia as part of its efforts to transform into a general business company covering energy, food, and eco-friendly parts.

11/01/2023 (Market Screener), Jakarta - Indonesia planned to set its crude palm oil reference price at $920.57 per tonne for Jan. 16-31, up from $858.96 per tonne in Jan. 1-15, deputy coordinating minister of economic affairs Musdhalifah Machmud said on Wednesday.

Malaysia’s total palm oil stocks fell 4.09 per cent to 2.19 million tonnes in December last year from the 2.29 million tonnes recorded the month before.

Malaysia’s December palm oil end-stocks fell to the lowest since August as widespread flooding hit production during the year-end monsoon season, Malaysian Palm Oil Board (MPOB) data showed yesterday.

Indonesia must develop a new feedstock alternative to palm oil as the government intensifies an ambitious biofuel program meant to move away from diesel, observers say.

China’s soybean imports appear to have already hit their peak level and will gradually decline through 2030 as Beijing continues its effort to double down on food security, according to a new report.

Edible oil has started disappearing from the market as importers struggle to pay for cargoes stuck at the port amid a dollar shortage in the country and unofficial non-tariff barrier (NTFs) imposed by the authorities, industry officials said on Tuesday.

Malaysian palm oil futures reversed early losses on Monday, after prices hit an 11-day low, buoyed by stronger crude futures and expectations of tight supply as traders await key data.

Indonesia and Malaysia, the world's biggest producers of palm oil, agreed on Monday to work together to fight "discrimination" against the commodity after a meeting between leaders from the countries.

Edible oils industry body SEA on Monday urged the Centre to increase import duty on RBD palmolein from the current 12.5 per cent to 20 per cent to discourage cheaper imports and protect domestic refiners.

UOB Kay Hian analysts Leow Huey Chuen and Jacquelyn Yow are maintaining their “market weight” rating on the plantation sector, expecting it to be less volatile in 2023 compared to last year.

HAMBURG, Jan 9 (Reuters) - Turkey's state grain board TMO has issued an international tender to purchase about 24,000 tonnes of crude sunflower oil, European traders said on Monday.