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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
CPO price strength could dissipate through end-2024, says BMI
Positive growth for plantation sector, amid rising CPO prices
CPO Futures Snap Two-day Losing Streak To End Higher On Firmer Soybean Prices
29/08/2024 (Bernama), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives snapped two days of losses to close higher on Thursday, driven by stronger soybean oil prices during Asian hours, said a dealer.
Palm oil snaps two-day losing run on short-covering
29/08/2024 (Reuters), Singapore - Malaysian palm oil futures rose on Thursday, after a two-day losing streak, as traders covered short positions in the market, although the prospect of higher import taxes in India, the world's largest vegetable oil buyer, limited gains.
Imports of Animal Fats and Processed Oils Have Skyrocketed
29/08/2024 (Southeast AgNet) - U.S. imports of animal fats, greases, and processed oils, including used cooking oil, skyrocketed to almost five billion pounds in 2023 from 2.2 billion pounds in 2022.
Soybeans Rallying on Thursday
29/08/2024 (Barchart) - Soybeans are trading with midday gains of 9 to 12 cents in the front months so far at Thursday’s midday. Support was noted from Export Sales data. Soymeal futures are up $1.40 in the October contract at midday. Soy Oil futures are 102 points higher in September ahead of first notice day.
Govt Likely To Raise Import Taxes On Vegetable Oils To Support Farmers: Report
29/08/2024 (ABP News Bureau) - This proposed increase, which is expected to be officially announced in the upcoming weeks, aims to shield domestic producers by potentially curbing demand and lowering imports of oils
Italy’s severe drought damages olive trees ahead of harvest
29/08/2024 (Oils & Fats International) - Olive trees in Italy’s major olive-growing regions have been damaged by heatwaves and severe drought conditions ahead of this year’s harvest, Olive Oil Times wrote.
Rapeseed Oil Prices to Surge Across Europe Amid Supply Concerns
29/08/2024 (ChemAnalyst.news) - In a significant market shift, Rapeseed Oil prices are experiencing a sharp uptick across European nations during August, with experts predicting the trend to continue in the coming months. This surge comes despite global vegetable oil production reaching record levels, highlighting the complex dynamics at play in certain edible oils market including the Rapeseed Oil.
Palm oil dips as India import tax concerns counter weak supply outlook
28/08/2024 (Reuters), Singapore - Malaysian palm oil futures ended lower on Wednesday as concerns over the prospect of higher import taxes in India, the world's top vegetable oil buyer, outweighed a weaker supply outlook from top producer Indonesia
TH Plantations' 2Q net profit almost doubles on higher sales
28/08/2024 (New Straits Times), Kuala Lumpur - TH Plantations Bhd, the plantation subsidiary of Lembaga Tabung Haji, reported a significant increase in its net profit for the second quarter ended June 30, 2024 (2Q24), rising to RM10.4 million from RM5.3 million in the same period last year.
