Berita Arkib

Despite the higher CPO prices, most planters are expecting mixed performance in their earnings outlook for this year with the industry currently facing severe workers shortage in the estates.

South Korea and the UK will kick off their bilateral free trade agreement (FTA) on Jan. 1. to maintain the continuity of trade activities after the latter's departure from the EU.

MALAYSIA’S Movement Control Order (MCO) had restrained the country’s economic activities, including the palm oil industry despite its importance in the food industry.

Local consumers now have to spend more on edible oil as prices are rising in the international market almost every week due to decreased production in exporting countries, weakening of supply chain and stockpiling amid the pandemic.

Fitch Ratings expects crude palm oil (CPO) prices to decline in 2021 on higher supply and assumes they will average USD560/tonne over the year, despite some upside risk, such as a strong La Nina weather pattern.

Malaysian palm oil futures edged higher for a second day, tracking higher prices of rival vegetable oils on the Dalian Commodity Exchange rose, although the gains were capped due to a stronger ringgit and cheaper U.S. soyoil.

Expects the prices to average at US$560 (RM2,268) per tonne over the year.

The deal, which will come into effect on Jan. 1, aims to support trade between the two countries which was worth more than $25 billion in 2019.

Beijing chose to promote trade with its Asian neighbors through RCEP, even if it meant pain for its domestic industry through a reduction or elimination of tariffs.

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed marginally higher today in anticipation of lower output and stock, a dealer said.

The firm assumed the prices would average US$560 per tonne over the year, despite some upside risks such as a strong La Nina weather pattern