Berita Arkib

Malaysia's benchmark crude palm oil prices is forecast to fall to near 3,300 ringgit by end-2021 if crude oil is at $65 a barrel, leading industry analyst James Fry said on Wednesday.

Palm oil inventories at the world's biggest grower Indonesia is expected to shrink by almost half to 2.67 million tonnes by the end of 2021 as a rise in demand is seen outpacing production, the Indonesian Palm Oil Association (GAPKI) said on Wednesday.

Malaysian palm oil futures advanced over 2% on Tuesday, extending gains for a second session, as the market tracked a rally in soyaoil fuelled by US President Joe Biden’s green energy push but signs of higher production capped the gains.

THE local palm oil industry is in dire need of automation and agricultural innovation to cope with declining productivity as plantation companies continue to struggle with massive labour shortages amid the Covid-19 pandemic.

MIDF Research has upgraded the plantation sector to "positive" from "neutral" after revising up its crude palm oil (CPO) price target to RM3,000 per ton from RM2,700 per ton.

Malaysian palm oil futures jumped 4% on Tuesday, extending gains for a second straight session, as the market tracked a rally in soyoil fuelled by U.S. President Joe Biden's green energy push.

Malaysia’s exports of palm-based biodiesel are likely to fall this year to their lowest since 2017 due to European Union restrictions and the coronavirus pandemic, the Malaysian Biodiesel Association (MBA) said on Tuesday.

This year could be even an even more volatile one for the palm oil industry, according to Sime Darby Oils managing director (MD) Mohd Haris Mohd Arshad.

The Oil Palm Development Association of Ghana (OPAG) has called for collective efforts from various stakeholders in the sector in its bid to improve and promote high-quality Oil Palm production in the Country.

The palm oil price outlook and its challenges in 2021-2022 will take centre stage at the two-day virtual Palm and Lauric Oils Price Outlook Conference and Exhibition (POC) 2021 starting tomorrow.

Market sentiment seems to lean towards the larger, more established palm oil companies as being the greatest beneficiaries of the crude palm oil rally.

Oil steadied on Monday as hopes for a pick-up in demand later this year helped arrest last week's broad sell-off, but prices stayed under pressure as new European coronavirus lockdowns made a quick recovery look less likely.