Berita Arkib

Futures contracts of all components of the edible oil basket, barring soybean, rose on domestic exchanges today

In last week’s note I sketched out the costs so far of President Trump’s trade war. In this week’s note I turn my attention to the economic damage it may cause in the future. Three points are worth stressing.

Crude palm oil (CPO) price could be heading towards a recovery, according to local and international investment banks.

Malaysian palm oil futures rose on Monday, shadowing higher U.S. soyoil prices on the Chicago Board of Trade (CBOT), while a softer ringgit also supported.

Tun Dr Mahathir Mohamad has described the international community’s assessments and assumptions about Malaysia’s palm oil as not fair

• Norway saw drop in palm oil consumption following new regulations limiting sales in response to concerns about deforestation for plantations. • The decrease has been lauded by a Norwegian rainforest advocacy group, which called it a “big win for rainforests.” • Indonesia and Malaysia, the world’s two biggest palm oil producers, have warned of retaliation if a Europe-wide phase-out of the commodity from biofuels by 2030 goes ahead.

Palm oil may retrace into the range of RM1,965-1,986 per tonne as it failed to break a resistance at RM2,020.

Europe’s food manufacturers and retailers need to choose certified sustainable palm oil instead of backing messages to drop palm oil altogether.

Efforts are being made to reduce Myanmar’s reliance on palm oil, the most popular vegetable oil in the country, according to the Myanmar Edible Oil Millers Association.

* Palm up 0.8% * Malaysia June 1-15 palm oil exports fall 15.3% -SGS (Updates with closing prices, comments) By Liz Lee

Despite criticism, the Commerce Ministry stays committed to calling on retailers to mark up prices of cooking palm oil to reflect higher costs, in part to help boost domestic oil palm prices.

Despite good intentions, the Department of Internal Trade's (DIT) latest move to instruct retailers to mark up prices of cooking palm oil aimed at boosting palm nut prices is imprudent