Berita Arkib

The Ministry of Industry and Trade (MoIT) is collecting comments on a draft circular regarding the Rules of Origin regulations for the Regional Comprehensive Economic Partnership (RCEP).

Malaysian palm oil futures gave up gains to close 1% lower on Monday as stronger palm production and cheaper rival oils weighed on the prices.

IOI Corp Bhd expects the fresh fruit bunch (FFB) production to be stable next year as the higher production from young palm trees at its Indonesian plantations offsets the production loss from its accelerated replanting programme in Sabah, according to its group managing director and chief executive officer Datuk Lee Yeow Chor.

Among the speakers, Godrej International director Dorab Mistry forecast the CPO prices to decline from RM3,800 per tonne in April 2022 to RM3,200 per tonne in September 2022.

The palm oil business can no longer ignore the call to embrace sustainability more thoroughly. As the consequences of the climate crisis grow, businesses worldwide are investing in climate mitigation measures.

Malaysian crude palm oil prices, which have hovered near last month’s record highs, will stay firm until February, but start to ease from March, on rising output in the top two producer nations, leading industry analyst Dorab Mistry said.

Chaturvedi also said that the rise in edible oil prices in the country was reflective of international value, adding that a dip in edible oil prices was expected to be gradual and not drastic in the coming time due to an estimated increase in global production.

Edible oil prices could ease in the next to six to 12 months on improving supplies and benchmark palm prices could moderate from near record levels to average slightly below 4,000 ringgit ($956.60) per tonne in 2022, a top industry analyst said.

This includes the adoption of technology by and modernisation of different sectors, as well as the strengthening of international trade, which includes the ratification of new free trade agreements (FTAs), such as the Regional Comprehensive Economic Partnership (RCEP).

Argentina's government said on Wednesday it would appeal a ruling by the U.S. Court of International Trade to deny its challenge over high duties on imports of biodiesel from the South American country, one of the world's top producers.

Announcing a reduction in the prices of various essential food items, Federal Minister for Finance and Revenue Shaukat Tarin said on Wednesday that despite the highest increase of inflation in a decade worldwide, inflation has declined in the country, owing to balanced policies of the government.

CBOT December wheat may test a resistance at $7.10-1/2 per bushel, a break above which could lead to a gain into $7.16-1/4 to $7.25-3/4 range.