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Malaysia raises palm oil export duty for April
Middle East conflict boosts demand for alternative fuels
CPO Futures Close Lower Amid Weaker Crude Oil, Soybean Oil Prices
Can palm biodiesel provide quick relief for Malaysia amid Iran war?
Buyers are seeking to renegotiate palm oil contracts as CPO price slumps
07/07/2022 (The Edge Markets), Kuala Lumpur - The rapid fall in crude palm oil prices in the past month has prompted contract renegotiations between oil traders and buyers who are taking the deliveries now, as an increasing number of buyers declined to take delivery of the vegetable oil that were locked in previously at much higher prices.
Palm oil halts slump as China’s stimulus plan aids commodities
07/07/2022 (The Edge Markets) - Palm oil snapped a four-day losing streak as commodities including crude oil and metals jumped on China’s US$220 billion stimulus plan.
Palm oil stocks to reach 7-month high
07/07/2022 (The Malaysian Reserve) - MALAYSIA’S palm oil stocks are expected to rise by 10.5% month-on-month (MoM) to 1.68 million tonnes at the end of June 2022 due to higher output and lower exports, said CGS-CIMB Securities Sdn Bhd (CGS-CIMB Research).
Agencies told to find mechanism to reduce cooking oil retail price
07/07/2022 (The Star Online), Putrajaya - The special task force to address inflation has instructed agencies involved to find a mechanism to reduce the retail price of cooking oil following the decline in crude palm oil prices.
Remove additional tax burden on oil palm producers, MP tells govt
07/07/2022 (Free Malaysia Today), Petaling Jaya - The government has been urged to abolish two windfall taxes imposed on palm oil producers in the face of rising costs confronting the industry.
Indonesia sees B40 biodiesel mix absorbing extra 2.5 million tonnes of palm oil
07/07/2022 (Today Online), Jakarta - Senior Indonesian minister Luhut Pandjaitan estimated on Thursday that an additional 2.5 million tonnes of palm oil could be absorbed by the domestic market if the country raised the amount of palm oil in its biodiesel mix to 40per cent (B40).
President reviews progress of red palm cooking oil research in Medan
07/07/2022 (Antara News), Jakarta - President Joko Widodo (Jokowi) visited the Palm Oil Research Center (PPKS) in Medan, North Sumatra, to monitor the progress of research on using red palm oil as cooking oil during a working visit to the province.
Crackdown on smuggling of cooking oil to intensify
07/07/2022 (The Star Online), Klang - The Domestic Trade and Consumer Affairs Ministry will intensify enforcement to curb the smuggling and misappropriation of subsidised cooking oil to neighbouring countries.
Volatile CPO price on high stock levels
07/07/2022 (The Star Online), Kuala Lumpur - High crude palm oil (CPO) stock levels have made prices volatile, with fears of the sharp price correction in commodities like wheat could trigger contract washouts and further exacerbate the price downtrend.
