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CPO Futures Close Lower Amid Weaker Crude Oil, Soybean Oil Prices
Malaysia raises palm oil export duty for April
Middle East conflict boosts demand for alternative fuels
Palm falls on weak rival oils, crude oil prices, April demand concerns
Rice, palm oil seen as among ways to increase bilateral trade between Malaysia and Cambodia
PHNOM PENH (Feb 24): Increasing palm exports to Cambodia and import of rice to Malaysia are seen as among the ways to increase bilateral trade between the two countries as well as to expand collaboration in the fields of information and communications technology, financial technology, cybersecurity, small and medium enterprises as well as business start-ups.
Palm posts biggest daily rise in 13 years
KUALA LUMPUR: Malaysian palm oil futures rallied as much as 8% on Thursday to touch a record high, as a Russian attack on Ukraine rattled global markets and raised concerns of a disruption in global edible oil supplies.
Hap Seng Plantations 4Q profit soars 155% on higher CPO prices, pays 15.5 sen dividend
KUALA LUMPUR (Feb 23): Hap Seng Plantations Holdings Bhd’s net profit for the fourth quarter ended Dec 31, 2021 jumped 155.22% to RM94.31 million from RM36.95 million a year ago, underpinned by higher palm oil prices.
Fepo completes its first physical CPO delivery in Sabah
PETALING JAYA: Bursa Malaysia Derivatives Bhd has completed the first physical delivery of its East Malaysia Crude Palm Oil Futures Contract (Fepo) in Sabah, on Feb 17.
Far East 4Q net profit climbs 33.79% amid higher average CPO, PK prices
KUALA LUMPUR (Feb 23): Oil palm plantation company Far East Holdings Bhd posted a 34% surge in net profit for the fourth quarter ended Dec 31, 2021 (4QFY21) to RM52.97 million from RM39.59 million a year prior, underpinned by higher average prices of crude palm oil (CPO) and palm kernel (PK).
Indonesian UCO exports seized at border
Indonesian customs authorities have seized 20 containers of used cooking oil (UCO) that were booked for shipment under an incorrect customs code in an attempt to bypass new export regulations, according to market participants.
CBOT soybeans hit 9-1/2-yr high on Ukraine crisis, improving U.S. demand
CHICAGO, Feb 23 (Reuters) - Chicago Board of Trade soybean futures surged to a 9-1/2-year high on Wednesday on rising Russia-Ukraine tensions that lifted global vegetable oil prices and on improved U.S. export prospects as Brazilian cash premiums climbed.
China to release soybeans, soy oil from central reserves to boost supplies
The first month CFR China soybean physical flat price crossed the $700/mt mark for the first time since 2018, when it was assessed at $700.06/mt at the Asian close on Feb. 22, Platts data showed. The spike was fueled by rising freight rates, which were driven by higher crude oil markers on the back of the escalation in Russia-Ukraine tensions, as well as soybean prices basis FOB Santos.
Palm oil futures hit all-time high on bullish global energy, vegetable oil markets
Third-month palm oil futures on the keenly watched Malaysian commodity exchange crossed the MR 6,000/mt ($1,433.52) level for the first time Feb. 23, driven by a mix of rising energy prices, vegetable oil supply concerns, and a sharp overnight rally in CBOT soybean oil prices.
