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CPO prices seen at RM4,400-RM4,600 on tighter supply
CPO Futures End Higher, Tracking Stronger Soybean Oil Prices
Palm retreats from 21-month high on stock outlook, weak exports
Malaysia’s total palm oil stocks rise 7.48% to 2.82 million tonnes in August — MPOB
VEGOILS-Palm oil extends losses on weaker US soybean oil, stronger ringgit
26/07/2023 (Nasdaq), Singapore - Malaysian palm oil futures dipped on Wednesday, extending losses for a second consecutive session and paring earlier gains as a stronger Malaysian ringgit and weaker U.S. soybean oil weighed.
VEGOILS-Palm tracks rival vegetable oils higher
26/07/2023 (Nasdaq), Singapore - Malaysian palm oil futures rose on Wednesday, tracking gains in rival vegetable oils and on strong export data.
Edible oil prices declined over the year, providing relief to consumers: Minister
26/07/2023 (Live Mint), New Delhi - Minister of state for consumer affairs, food and public distribution Sadhvi Niranjan Jyoti on Wednesday said prices of refined sunflower oil, refined soybean oil, and RBD palm olein have declined significantly over the past year, bringing much-needed respite to consumers amid economic challenges.
Edible oil prices fall up to 29 per cent since last year
26/07/2023 (Economic Times) - The retail prices of refined sunflower oil, refined soyabean oil and refined palmolien have fallen by 29 per cent, 19 per cent and 25 per cent, respectively, in the last one year due to steps taken by the central government and a decline in global prices. In a written reply to the Lok Sabha, Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyoti said the central government is "closely monitoring the domestic retail prices of edible oils to ensure that the full benefits of a decrease in international prices are passed on to the end consumers".
Palm retreats after rallying to 4-1/2-month high
25/07/2023 (Business Recorder), Singapore - Malaysian palm oil futures fell on Tuesday, as traders locked in profits after prices rallied to a 4-1/2-month high in the prior session on Russia’s attacks on Ukrainian grain warehouses.
India's July edible oil imports to jump to record on stock building- dealers
25/07/2023 (Nasdaq), Mumbai - India's July edible oil imports were set to jump to a record 1.86 million metric tons, nearly 60% more than normal, as refiners raised purchases to build stocks for festivals amid uncertainty over supplies from the Black Sea, dealers and cargo surveyors said on Tuesday.
Adani Wilmar files complaint in UP against counterfeit “Fortune” edible oil
25/07/2023 (Packaging South Asia) - In stories dated 21 July 2023, several financial print media reported that Adani Wilmar had filed an FIR through its agency against the B2B platform ‘Jumbotail’ for alleged distribution of counterfeit products on the platform. The edible oil major apparently discovered the malpractice during a routine market survey. In a statement, Adani Wilmar said it had filed the police complaint in the Badalpur police station in Gautam Budhnagar district, Uttar Pradesh against the B2B platform.
Bangladesh seeks IFAD support to boost wheat and edible oil production
25/07/2023 (Prothom Alo) - Prime Minister Sheikh Hasina has requested support from the International Fund of Agricultural Development (IFAD) to enhance wheat and edible oil production in Bangladesh, UNB reports.
In Honduras, a democratic approach to palm oil defies the status quo
25/07/2023 (China Dialogue) - The palm oil cooperative Hondupalma stands as a beacon of hope against a backdrop of violence in Honduras, according to several people involved with the company. By bringing together over 600 small landowners, all of whom are partners in the company, Hondupalma defies the prevalent model of large family-owned palm oil companies, they explain, adding that it also empowers communities.
