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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
Palm retreats from 21-month high on stock outlook, weak exports
Palm slips over 1% on weaker soyoil, bearish MPOB data
Palm oil may test support at 3,717
04/08/2022 (Business Recorder), Singapore - Palm oil may test a support at 3,717 ringgit per tonne, a break below could open the way towards 3,489-3,598 ringgit range. The contract started a bounce earlier than expected, which was supposed to occur around 3,717 ringgit.
Towards self-reliance in edible oils
04/05/2022 (The Hindu Business Line) - India is the second largest edible oil market in the world. It consumes, on an average, 21 million tonnes (mt) of edible oil each year, of which, 7-8 mt are produced locally, while 13 mt — that is, 66-68 per cent — are imported. This makes India the No.1 importer, with close to $18 billion outflow last year.
Three to five years before automation bears fruit, says MPOC chairman
04/08/2022 (The Star Online), Petaling Jaya - It will take some three to five years before plantation stakeholders who invested in automation could see the potential outcome, says Malaysian Palm Oil Council (MPOC) chairman Larry Sng.
FBM KLCI inches higher at midday
04/08/2022 (The Star Online), Kuala Lumpur - Bursa Malaysia climbed higher at midday as broader market sentiment was positive and select index-linked stocks lifted.
India's July soyoil imports jump to record on duty free buying-dealers
03/08/2022 (Reuters), Mumbai - India's soyoil imports in July more than doubled from a month ago to a record high as refiners ramped up purchases to take advantage of New Delhi's move to allow duty free imports of the vegetable oil to calm all-time high prices, five dealers said.
GDP growth gains speed in 2Q on record exports
04/08/2022 (The Star Online), Jakarta - Indonesia’s economy likely accelerated last quarter, buoyed by strong exports and private consumption, but a slowdown in China and the threat of a global recession pose significant risks in coming months, a Reuters poll has found.
Malaysia says ready to help India meet palm oil demand
04/08/2022 (Channel News Asia), Kuala Lumpur - Malaysia said on Thursday it was ready to help India meet its palm oil demand in view of potentially erratic supply from top supplier Indonesia.
Upstream business crucial in planters’ 2Q earnings
04/08/2022 (The Star Online) - KUALA LUMPUR: How plantation companies perform financially in the second quarter of this year (2Q22) will depend on their exposure to the upstream business in Malaysia and Indonesia, says Hong Leong Investment Bank (HLIB).
Insight - Indian state bets big on oil palm to cut US$19bil vegoil imports
04/08/2022 (The Star Online) - PULLARAO Daravathu and thousands of fellow farmers from Telangana in India’s south are busy planting oil palms as their home state aims to add more area under the crop within four years than the entire country has in decades.
