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MARKET DEVELOPMENT
16-02-2024

VEGOILS-Palm Oil Drops on Weak Soyoil, Falling Exports

15/2/2024 (Reuters), Malaysian palm oil futures dropped on Thursday, weighed down by weakness in rival Chicago soyoil, falling exports and a correction in crude oil prices.

MARKET DEVELOPMENT
15-02-2024

Analysts Neutral on Plantation Sector with Crude Palm Oil Seen Averaging RM3,800 Per Tonne

14/2/2024 (Malay Mail), Kuala Lumpur - Kenanga Research has forecast the price of crude palm oil (CPO) to trade range-bound and average around RM3,800 per tonne in a tight outlook for edible oils in 2024.

MARKET DEVELOPMENT
15-02-2024

Global vegetable oil prices stabilise

14/2/2024 (Biofuels International), The FAO vegetable oil price index averaged 122.5 points in January, which was marginally up on the previous month, but still 12.8% below the January 2023 level.

OILS & FATS
15-02-2024

Palm oil stockpile expected to dip further in February to below 2mil tonnes

14/2/2024 (New Straits Times), Kuala Lumpur - Palm oil stockpile is expected to dip below two million tonnes in February as palm oil production is likely to decline further following a downtrend for the third consecutive month in January.

OILS & FATS
15-02-2024

Indonesia Sees Return of Palm Oil Deforestation After Decade-Long Decline

13/2/2024 (Chem Analyst.News), Deforestation for oil palm plantations has seen a resurgence in Indonesia, the world's largest palm oil producer, marking the second consecutive year of increased forest loss and reversing a decade-long trend of decline. Notably, approximately one-third of the deforestation recorded in 2023 took place on carbon-rich peatlands, amplifying concerns over potential greenhouse gas emissions as these areas are cleared and drained to make way for plantation expansion.

LOCAL
15-02-2024

Johari urges private sector to work with palm oil board to commercialise technology

14/2/2024 (New Straits Times), Kuala Lumpur - Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani has called on the private sector to get involved in the commercialisation of technology developed by the Malaysian Palm Oil Board (MPOB).

MARKET DEVELOPMENT
15-02-2024

CPO likely to hit above RM4,200 per tonne soon

15/2/2024 (The Star), Petaling Jaya - Crude palm oil (CPO) stockpiles will likely fall below two million tonnes by the end of this month, potentially pushing the commodity’s prices higher in the near term.

MARKET DEVELOPMENT
14-02-2024

Cooking Oil Prices To Go Up? Uncertainty Looms As Imports Decline

13/02/2024 (The Free Press Journal), India is one of the largest consumers of edible oil in the world and India imports 65 per cent of the edible oil consumed in the country. In January 2024, India's vegetable oil imports saw a significant decline of 28 per cent, totaling 12 lakh tonnes compared to 16.61 lakh tonnes in January 2023, according to the Solvent Extractors Association of India (SEA).

MARKET DEVELOPMENT
14-02-2024

Edible oil industry advocates tax reform

13/02/2024 (The Express Tribune), Karachi - Edible oil manufacturers have called for reducing the duty on Crude Palm Oil (CPO), abolishing section 8B of the Sales Tax Act, and enhancing taxes on commercial importers. The aim is to encourage farmers and others to boost industrial growth in the country.

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PALM NEWS MALAYSIAN PALM OIL BOARD Tuesday, 26 Nov 2024

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PALM NEWS MALAYSIAN PALM OIL BOARD Tuesday, 26 Nov 2024

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