Berita Arkib

Malaysian palm oil futures pared earlier losses and edged higher on Thursday, ending three straight sessions of losses, on bargain hunting amid expectations for improvement in demand.

The imports of soyabean oil into the country during first month of current financial year decreased by 25.53%, whereas palm oil’s import increased by 23.35% as compared to imports of the corresponding period of last year.

World food prices jumped in August after two consecutive months of decline, pushed up by strong gains for sugar, vegetable oils and some cereals, the United Nations food agency said on Thursday.

Indonesia and the United Arab Emirates (UAE) on Thursday launched negotiations for a deal to increase the scale of trade and investment between the two nations, senior officials said.

Malaysia’s pilgrimage fund is considering taking its agricultural firm TH Plantations Bhd. private, people with knowledge of the matter said, amid a rally in palm oil prices.

Malaysian palm oil futures fell for a third straight session on Wednesday, tracking weakness in rival Chicago and Dalian oils and weighed down by lower European Union imports.

New Plantation Industries and Commodities (MPIC) Minister Datuk Zuraida Kamaruddin intends to adopt a circular economy while she helms the ministry, focusing on reproducing and recycling commodities’ waste into something more marketable.

The big names in India’s palm oil industry are chalking out plans for expansion of oil palm plantation and processing, encouraged by the government’s move to boost oilseed production and reduce the country’s reliance on imports for its cooking oil needs.

Awareness about the importance of tackling child labour issues in the palm oil industry has been growing over the past few years, with the Roundtable on Sustainable Palm Oil (RSPO) increasing their role in the movement.

The research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) recapped that Malaysia’s total trade grew at slower pace of 13 per cent year on year (y-o-y) in July 2021, attributable mainly to weaker exports.

Malaysia’s oil palm industry remains resilient during the movement control order (MCO) and the National Recovery Plan (NRP) currently being implemented nationwide as the agriculture sector continues to be one the main contributors to the country’s Gross Domestic Product (GDP) growth during the Covid-19 pandemic.

Malaysian palm oil futures fell more than 1% on Friday, weighed by weaker Dalian and Chicago soyoil prices, although the contract posted a weekly gain helped by concerns around tight global edible oil supplies.