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CPO price forecast to climb for rest of the year
CPO FUTURES HIT TWO-YEAR HIGH ON BULLISH SENTIMENT, STRONG EXPORTS
Positive growth for plantation sector, amid rising CPO prices
Global Stearic Acid Prices Climb Amid Palm Oil Shortages and Rising Production Costs
Govt starts oil palm replanting in Riau smallholder farms
18/09/2023 (Antara News), Pekan Baru - The Agriculture Ministry has launched a program to replant oil palms on 10 thousand hectares (ha) of smallholder farmland in Riau Province.
A repeat winner for the sector
18/09/2023 (The Edge Malaysia) - From 2019 to 2022, the price of the world’s most consumed edible oil — crude palm oil (CPO) — rose from a low of RM1,831 per tonne (Malaysian Palm Oil Board spot) in March 2019 to a historical high of RM8,076 per tonne in March 2022, owing to weather factors, pandemic-induced labour shortages, the Ukraine-Russia conflict and regulatory changes. Prices eased towards end-2022, ending the year at RM4,048 — still higher than 2019’s average of RM2,128.
Anwar: China to double imports of Malaysian palm oil
18/09/2023 (The Edge Malaysia), Nanning - China’s imports of Malaysian palm oil will double to 500,000 tonnes a year, from the current 250,000 tonnes, following the exchange of a memorandum of understanding (MOU) between Sime Darby Oils International Ltd (Sime Darby Oils) and GuangXi Beibu Gulf International Port Group (GuangXi Beibu Gulf).
Govt develops plan to reduce edible oil import dependency
17/09/2023 (The Standard Media) - The government has through the ministries of Agriculture and Trade targeted specific value chains in a bid to stimulate production, value addition, and marketing of agricultural products so as to lower the cost of importation that stands at over Sh100 billion per year.
KPDN: Claim of NSK selling subsidised cooking oil only to foreigners is just a misunderstanding
15/09/2023 (The Sun Daily), Putrajaya – The Ministry of Domestic Trade and Cost of Living (KPDN) has inspected the NSK Supermarket in Jalan Peel, Kuala Lumpur, over complaints of it selling the subsidised one kilogramme packets of cooking oil to foreigners.
India’s palm oil imports from Malaysia rise 8.5pc in August
15/09/2023 (Malay Mail), New Delhi - India imported 327,815 tonnes of palm oil from Malaysia in August — an increase of about 8.5 per cent over the previous month.
MPOB: Action will be taken if Palm Oil mill found to have caused pollution in Sg Pukin
15/09/2023 (New Straits Times), Kuala Lumpur - The Malaysian Palm Oil Board (MPOB) will take action in accordance with its legislation if a palm oil mill is found to be the cause of pollution in Sungai Pukin, Rompin, Pahang.
India's palm oil imports exceed one million tonne for second straight month
14/09/2023 (The Edge Malaysia), Mumbai - India's edible oil imports in August rose 5.5% to a record 1.85 million metric tonnes as refiners purchased more than one million tonnes of palm oil for the second consecutive month to build stocks for upcoming festivals, a leading trade body said.
VEGOILS-Palm rises for second session on stronger rival oils
14/09/2023 (Nasdaq), Jakarta - Malaysian palm oil futures rose on Thursday, extending gains to a second day, supported by recovery in Dalian vegetable oils and crude oil.
