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AI boom is turning Malaysia’s palm oil estates into data centres
CPO prices to stay elevated on firm demand and tight supply
CPO price dip seen as temporary, stocks to rise in November: CIMB Securities
Malaysian palm oil futures fall under fundamental pressure, amplifying the impact on other oil prices
YGN palm oil wholesale reference rate dips this week
17/10/2024 (Global New Light Myanmar) - The wholesale reference rate of palm oil for the Yangon market declined a bit to K6,355 per viss this week ending 20 October, down from K6,455 of last week ending 13 October, according to the Supervisory Committee on edible oil import and distribution.
ICE canola rises on soybean oil strength
17/10/2024 (Reuters) -ICE canola futures closed up on Thursday on spillover strength from higher U.S. soybean oil prices.
Malaysia keeps November crude palm oil export duty at 8% — MPOB
16/10/2024 (Reuters), Kuala Lumpur - Malaysia has maintained its November export tax for crude palm oil at 8%, and raised its reference price, a circular on the Malaysian Palm Oil Board (MPOB) website showed on Wednesday.
Govt approved RM52.9 million for Smallholder Palm Oil Replanting Scheme: Johari
16/10/2024 (New Straits Times), Kuala Lumpur - The government has approved RM52.9 million in funds under the Smallholder Palm Oil Replanting Financing Incentive Scheme (TSPKS2.0), involving 1,165 palm oil smallholders and 3,378ha as of Oct 14.
Booming Chinese demand drives canola exports
16/10/2024 (The Western Producer) - The Canadian grain and oilseed sector continues to have an overreliance on Chinese exports, which was illustrated by the Canadian Grain Commission’s August report on exports of Canadian grain and wheat flour.
Seasonal Bull Run of Palm Oil Puts Pressure on Fatty Acid Prices in US and China
16/10/2024 (Chemanalyst) - Fatty Acid prices in both China and the US witnessed an upward trend in September. The rise in Fatty Acid prices was primarily attributed to the growing demand for palm oil in the global market.
Palm bounces back on stronger crude and rival oils
16/10/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures opened higher on Wednesday, bouncing back after two consecutive sessions of declines, on the strength of rival oils and crude oil prices.
MPOC Expects CPO Price To Hold Steady At RM4000 In October
15/10/2024 (Business Today) - Malaysia’s palm oil production reached its peak in August this year, two months earlier than in the past three years, which peaked in October. Palm oil production in September declined 3.8% to 1.82 million tonnes, with further seasonal reductions expected until end of the year. Despite the drop in production, the Malaysian Palm Oil Council said Malaysian palm oil exports remained robust, posting a modest increase of 0.9% to 1.54 million tonnes. Year-over-year, September exports surged by an impressive 27.3%.
Timing right for Malaysia to introduce cooking oil futures
15/10/2024 (New Straits Times), Kuala Lumpur - It is the perfect time to introduce used cooking oil (UCO) futures in light of the growing emphasis on sustainability in the palm oil industry, according to an industry expert.
