Berita Arkib

Malaysian palm oil futures extended gains to a third session on Thursday, as top producer Indonesia imposed mandatory domestic sales and high energy rates boosted prices of the vegetable oil.

Oil palm planters in Malaysia are confronting a hard truth -- behind the red-hot rally in prices are thousands of jobs that nobody wants.

Palm oil may test a resistance at 5,484 ringgit per tonne, a break above could lead to a gain into 5,558-5,608 ringgit range.

Malaysian palm oil futures rose for a second straight session on Wednesday, supported by concerns over lower production and stronger rival oils.

SINGAPORE: Palm oil may revisit its Tuesday low of 5,202 ringgit per tonne, as a correction triggered by the resistance at 5,366 ringgit looks incomplete.

RHB Investment Bank Bhd has maintained its “Underweight” on the plantation sector and said the Malaysian Palm Oil Council (MPOC) expects Indian demand for palm oil to moderate in 2022, on the back of the prevailing high prices, higher domestic production and the current import duties, which favour soybean oil.

This is due to the currently high CPO prices and India's higher oilseed production with a 10-15 per cent growth in rapeseed oil inhibiting demand, as well as current import duty structure favouring crude soya bean oil (SBO), which is currently around the same price as CPO, the brokerage added.

Commerce Minister Jurin Laksanawisit has pledged to tackle high palm oil prices this week after cooking oil prices jumped to nearly 70 baht per bottle from 56-60 baht at the end of last year.

U.S. soybean futures hit their highest in seven months on Wednesday on technical buying and as soyoil futures rallied with energy markets and historically high palm oil prices.

Deforestation for new oil palm plantations in Indonesia has decreased over the past decade, strengthening the case that palm oil doesn’t have to be associated with the destruction of forests, according to a new analysis.

PETALING JAYA: Oriental Interest Bhdhttps://cdn.thestar.com.my/Themes/img/chart.png’s net profit fell 22.5% to RM11.70mil in the first quarter ended Nov 31, 2021 (Q1’FY22) from RM15.09mil a year ago mainly dragged by lower revenue from both the property development and general construction segments.

Aone-litre bottle of palm oil sells at 59 baht in supermarkets of department stores. Some brands are in short supply, as a result some stores are allowing a person to buy no more than six bottles.