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CPO Futures End Higher On Firmer Oil Prices, Rival Vegetable Oil Futures
CPO prices to hold around RM4,400 per tonne in June 2026 - MPOC
SGX-listed palm oil players under pressure as Indonesia’s commodity export overhaul stokes fears
Palm oil outlook firm on supply tightening
Processed soybean workers in Argentina launch strike over wage dispute
06/08/2024 (Reuters), Buenos Aires - Two unions of soybean oil factory workers in Argentina announced a strike over wages on Tuesday, halting activity in one of the world's largest exporting hubs for processed soybeans.
Renewable diesel surpasses biodiesel production in the US
06/08/2024 (Biofuels International) - According to a new report from the USDA the production of renewable diesel in the US has grown from 40 million gallons in the 2010/11 marketing year to 2.3 billion gallons in 2022/23 - surpassing biodiesel production for the first time.
M11 Industries begins turning used cooking and other waste oil into biodiesel at Padubidri
06/08/2024 (The Hindu) - M11 Industries Private Limited, a subsidiary of M.K. Agrotech Private Limited,commenced operations at its biodiesel plant in Padubidri, Udupi district of Karnataka. The state-of-the-art facility is established under the ‘Make in India’ initiative with an investment of ₹350 crore. The company claims that the plant is the largest in India.
Palm drops 3% to 6-month low as weaker crude oil, firmer ringgit weighs
05/08/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures fell more than 3% on Monday to their lowest closing price in six months, as weaker crude oil prices and a stronger ringgit weighed on the market.
CPO futures end lower amid bearish global sentiment and strong Ringgit
05/08/2024 (Bernama), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives slipped on Monday, driven by bearish global sentiment and a sell-off in the equities market, said palm oil trader David Ng.
Target set for six-fold rise in palm oil output by 2032; current output 0.4 MT
06/08/2024 (Financial Express) - The country is aiming to increase domestic palm oil production from the current level of 0.4 million tonne (MT) to 2.5 MT by 2032 under the national oil palm mission through adding at least 0.1 million hectare (MH) of new plantation annually in the five to six years, according to leading industry officials.
India's Marico beats Q1 profit estimates on cooking, hair oil demand
05/08/2024 (Reuters), Chennai/Bengaluru - India's Marico (MRCO.NS), opens new tab, which owns the Saffola and Parachute packaged oil brands, reported a slightly bigger-than-expected increase in first-quarter profit on Monday, helped by steady demand and said its earnings would grow this year.
Soybeans Pushing Higher into Midday
05/08/2024 (Bar Chart) - Soybeans are trading with midday gains of 2 to 7 cents, ignoring the overnight losses, sharply lower equities and weaker products. Soymeal futures are down $2/ton on the session for the September contract. Soy Oil futures are 49 points lower in the September contract.
Bump in Greece’s 2024 Prized Olive Oil Crop Seen Reducing High Prices
05/08/2024 (The National Herald), Athens - The soaring prices of olive oil in Greece, especially Extra Virgin, that has seen Greeks turning to cheaper brands of alternative oils could come down with expectations the 2024 crop will be bigger.
