Berita Arkib

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are likely to trade in a yo-yo mode next week, mainly due to worries over the global economic slowdown, a dealer said.

Malaysia’s palm oil stocks fell 1% month-on-month (m-o-m) (+11% year-on-year [y-o-y]) to an 11-month low of 2.42 million tonnes as at end-June 2019.

Indonesia’s newly re-elected president, Joko Widodo, has vowed to fight the European Union over plans to restrict the use of palm oil in biofuels.

The contribution of exports in the country’s foreign trade reached 6.3 per cent in the first 11 months of this fiscal, up19.2 per cent compared to the same period of last fiscal.

Many Palawan indigenous communities say they have suffered unfair land acquisition or lease arrangements for oil palm plantations. The situation hit a peak around 2007, when palm oil company Agumil Philippines promoted palm oil around the island as a miracle get-rich-quick crop.

Indonesia’s president, Joko Widodo, has vowed to fight the European Union over plans to restrict the use of palm oil in biofuels as the bloc looks to limit the materials that can be regarded as renewable energy sources

In a blow to Bangladesh’s apparel exporters, the EU, the country’s largest export destination, has extended duty-free access to Vietnam, eliminating the competitive edge that the country held over its biggest rival in the trade.

Indian and US trade negotiators will meet on Friday, with little sign of a compromise on a series of protectionist measures taken by the two governments in recent months that have strained ties between the strategic partners.

Palm oil still targets RM1,966 per tonne, as it could have reversed its downtrend at the July 10 low of RM1,916.

Crude palm oil (CPO) prices are expected to remain subdued in the coming months because of oversupply, competitive pricing from Indonesia, and projections of higher production in the second half of 2019 (2H19), according to analysts.

Acreage of most kharif crops is under threat this year due to poor monsoon rains so far. Soybean, however, may be an exception.

Palm snaps three previous days of losses