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CPO prices seen at RM4,400-RM4,600 on tighter supply
Malaysia’s total palm oil stocks rise 7.48% to 2.82 million tonnes in August — MPOB
CPO Futures End Higher, Tracking Stronger Soybean Oil Prices
Palm slips over 1% on weaker soyoil, bearish MPOB data
CPO futures likely to trade range-bound next week ahead of MPOB data
15/04/2024 (New Straits Times), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade range-bound with an upward bias next week ahead of the release of the palm oil industry data for March 2024, said a dealer.
Rivals trim soy oil’s lead among biomass-based diesel feedstocks
15/04/2024 (Successful Farming) - Soybean oil accounts for 42% of all feedstocks for biodiesel and renewable diesel, the two fuels that make up the larger category of biomass-based diesel.
SOYBEANS, CORN, WHEAT START WEEK WITH LOSSES
15/04/2024 (Brownfield) - Soybeans were lower on profit taking and technical selling. There was some spillover pressure from meal and the broader market with beans watching South American harvest activity. Brazil is now past the 80% mark, while Argentina is getting close to 15%. The USDA’s next set of supply, demand, and production estimates is out May 10th, with CONAB’s updated outlook for Brazil on May 14th. Stateside, the USDA was expected to report widespread planting is getting underway. The USDA says 3% of U.S. soybeans are planted, compared to the five-year average of 1%. Soybean export inspections were below the previous week and a year ago, with China and Indonesia leading the way. China reportedly bought soybeans from Argentina and Brazil last week. The NOPA says member firms crushed a monthly record of 196.406 million bushels of soybeans during March, an increase of 5.5% on the month and 5.7% on the year, with oil stocks topping pre-report expectations. That larger than expected stocks number, and the losses in crude oil during the CBOT session, sent soybean oil futures lower.
UNILORIN lecturer produces biodiesel from eggshells
15/04/2024 (Punch) - A Professor of Chemical Engineering at the University of Ilorin, Kwara State, Elizabeth Odetoye, has produced biodiesel through the exploration of chicken eggshell-derived heterogeneous catalyst.
MKHOP’s plantations, yields likely to do well
15/04/2024 (The Star), Petaling Jaya - Mercury Securities Research (Mercury Research) likes MKH Oil Palm (East Kalimantan) Bhd (MKHOP) for its plantation acreage’s age profile and superior fresh fruit bunch (FFB) yield, which makes the company a compelling investment play should crude palm oil (CPO) prices remain high.
CPO prices forecast to dip amidst surplus soybean supply
14/04/2024 (New Straits Times), Kuala Lumpur - Plantation stakeholders might witness a retreat in crude palm oil (CPO) prices, dipping to the trading range of RM3,800 to RM4,000 per tonne throughout April and May, attributed to the abundant supply of soybeans from the United States flooding the global market.
Future of the most versatile food oil may lie in Latin America
14/04/2024 (The Edge Malaysia) - The world is facing a growing shortage of its most versatile edible oil. The solution may lie with emerging producers half a world away from Southeast Asia’s vast palm oil plantations.
Olive oil £16 warning to all shoppers as Tesco releases statement
14/04/02024 (Yahoo News) - UK households are being warned that they could be paying up to £16 for a two-litre bottle of olive oil, amid rising grocery and food inflation. This is a significant increase from the £7 that the same bottle cost two years ago.
Olive oil prices in Spain have risen in first quarter of 2024 but there are signs of them stabilising
12/04/2024 (SUR in English) - First it was Spain's non-government organisation for consumer action (Facua-Consumidores en Acción) that warned in a recent study of price hike for extra virgin olive oil (EVOO) in just one year - a year-on-year increase of 72.8% from February 2023 to February 2024. Now the organisation of consumers and users association (OCU) is also flagging up the increasing price trend for this product, which has continued to rise in the first quarter of this year. In the past three years EVOO has experienced a 225% increase in price (from December 2020 to December 2023).
