Berita Arkib

Malaysian palm oil futures recouped most of their early losses on Monday, tracking gains in rival oils and as supply concerns fuelled by rising COVID-19 cases countered weak exports and lower Indian import duties on soyoil and sunflower oil.

KUALA LUMPUR: Malaysian palm oil futures fell more than 1% on Monday, heading for a fifth session of drop in six, as cheaper rival Dalian oils and weak exports weighed on the market.

India has cut base import taxes on crude and refined soyoil and sunflower oil to 7.5% from 15% for six weeks, a government order showed, as the world's biggest vegetable oil buyer tries to cool near record high prices.

FORT COLLINS, Colo., Aug 22 (Reuters) - Smaller-than-expected supplies forecast by the U.S. government earlier this month helped extend speculators’ buying streak across Chicago grains and oilseeds, but sinking prices since then have gone against those bets and the enthusiasm may be on the decline.

European rapeseed oil (RSO) spot prices hit a multi-month high last week, as the suspension of rapeseed crushing at plants in Germany and France curbed supplies.

ISLAMABAD: The Paki­stan Vanaspati Manu­fact­urers Association (PVMA) has agreed in principle to take measures in the next couple of days to bring down prices of edible oil/ghee.

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade lower or remain weaker next week in anticipation of weaker exports in the coming weeks.

The Modi Cabinet’s decision last week to promote environmentally ruinous oil-palm plantations in the Andamans was a long time in the making and came on the heels of a go-ahead contained in a scientific body’s report, which environmentalists have disputed.

AMID dwindling public revenues, continued reliance on crude oil earnings and complacency by state governments, a commitment by the Edo State Government and the Central Bank of Nigeria to revitalise oil palm production offers a ray of light. Ramping up advocacy for oil palm production as part of efforts to diversify the economy, Governor Godwin Obaseki of Edo projected optimum earnings of $20 billion annually for the country with widespread cultivation and processing of palm kernels. Beyond rhetoric, the federal and state governments should urgently drive the resuscitation of this and other agricultural products to diversify exports, create jobs and attract investments.

KUALA LUMPUR (Aug 20): Exports of Malaysian palm oil products for Aug 1-20 fell 8.73% to 788,211 tonnes from 863,586 tonnes shipped during July 1-20, according to independent inspection company AmSpec Agri Malaysia on Friday.

Jakarta (ANTARA) - State-run PT Pertamina through its sub-holding Pertamina NRE and state-run plantation PT Perkebunan Nusantara III are producing green energy from palm oil liquid waste at Sei Mangkei biogas power plant (PLTBg), North Sumatra.

US President Joe Biden’s commitment to significantly reduce carbon emissions is likely to pressure US soybean oil supply in coming years as biodiesel production scales up in tune with rising demand for the alternative fuel.