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Malaysian palm oil slips
Palm oil ends at near 6-week low on higher output, slower demand outlook
Malaysian Palm Oil Council expects CPO to trade at RM4,000-RM4,200 a tonne in April
Palm oil rises on poor weather, exports recovery and stronger rivals
Ensuring palm oil safe as food ingredient
31/03/2024 (Daily Express) - Strategies for ensuring food safety of palm oil should be intrinsically linked to sustainability. One of the most significant issues facing the palm oil industry is the environmental impact of large-scale production.
Okomu Oil Palm reports 44% profit growth in 2023
31/03/2024 (Nairametrics) - Okomu Oil Palm Company Plc has reported a pre-tax profit of N33.84 billion in FY 2023, representing a 44% growth from N23.52 billion in FY 2022.
Rimbunan Sawit to beef up crop production and yield
01/04/2024 (The Star), Kuching - Rimbunan Sawit Bhd will undertake a series of short-to-medium term measures to beef up crop production and yield of its loss-making oil palm plantations.
Palm oil smallholder cluster model to increase output
28/03/2024 (Free Malaysia Today), Petaling Jaya - The implementation of the palm oil smallholder cluster model can contribute an additional 9 million tonnes of fresh fruit bunches (FFB) producing roughly 1.8 million tonnes of crude palm oil if all the 1.5 million hectares of land that belong to smallholders can be consolidated into clusters of 10,000 hectares, said plantation and commodities minister Johari Ghani.
Malaysia to monitor EU’s palm oil biofuel curbs
29/03/2024 (Reuters), Kuala Lumpur - Malaysia says it will closely monitor how the European Union responds to a World Trade Organization ruling that supported the bloc’s stance that biofuel causing deforestation cannot be regarded as renewables but sought changes in how it implemented that decision.
Fitch: Higher global vegetable oil supply to drag CPO prices lower in Q2
27/03/2024 (Malay Mail), Kuala Lumpur - Fitch Ratings foresees that Malaysia’s benchmark crude palm oil (CPO) prices will weaken from the second quarter of 2024 (2Q 2024) due to a higher supply of vegetable oil globally.
Vegetable oils give canola market a lift
29/03/2024 (Manitoba Co-Operator) - Since March 1, the May contract for the oilseed has moved up nearly $50 per tonne on the Intercontinental Exchange, including a gain of $19.70 during the week ended March 21.
Indonesia accounts for 54% of global palm oil exports: minister
28/03/2024 (Antara News), Jakarta - Coordinating Minister for Economic Affairs, Airlangga Hartarto, has said that Indonesia is dominating global palm oil exports, accounting for 54 percent of world palm oil supplies.
CPO price may remain volatile
28/03/2024 (New Straits Times), Kuala Lumpur - TH Plantations Bhd (THP) cautioned over potential volatility in commodity prices, projecting crude palm oil (CPO) prices to fluctuate between RM3,500 and RM4,000 per tonne in 2024, compared to the average of RM3,809.50 per tonne in 2023.
