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CPO futures end higher on worries over weaker palm oil production
CPO prices set to trade between RM3,800 and RM4,200 per tonne in 2H2024, says MPOC
Palm oil set to rise in 2H as La Nina poses supply risk
CPO prices stay above RM4,000 for second straight day
Vegetable oil imports up 18% at 1.55 million tonnes in June: SEA data
Import of vegetable oils, comprising edible and non-edible oils, rose 18 per cent in June to 1.55 million tonnes on higher imports of crude palm oil and crude sunflower oil, according to trade data.
Foreign labour boost to help palm oil production this year, next
11/07/2024 (New Straits Times), Kuala Lumpur - The recent increase of foreign labour is anticipated to significantly enhance Malaysia's palm oil production this year and in the future.
Malaysia's palm oil stocks hit 4-month high in June on weak exports
10/07/2024 (The Star), Kuala Lumpur/Mumbai - Malaysia's palm oil stocks surged to a four-month high in June, driven by a steeper decline in exports compared to production, the industry regulator said on Wednesday.
Palm extends losses on rising stocks, soyoil weakness
10/07/2024 (Reuters), Mumbai - Malaysian palm oil futures extended losses on Wednesday as inventories rose to a four-month high in June and due to weakness in soyoil, even though an increase in July exports limited the downside.
Indonesia plans to develop cocoa, coconut sectors using palm oil fund
10/07/2024 (Reuters), Jakarta - Indonesia plans to use funds from its palm oil export levy to finance development of the country's cocoa and coconut sectors, the country's trade minister said on Wednesday.
MPOC sees palm oil exports to EU stabilising over long term despite EU deforestation regulation
10/07/2024 (The Edge Malaysia), Shanghai - The Malaysian Palm Oil Council (MPOC) sees palm oil exports to the European Union (EU) stabilising in the long term and it will remain an important market for Malaysian palm oil despite challenges presented by the EU Deforestation Regulation (EUDR), as it is confident local players exporting to the region are able to meet sustainability criteria under the new rules.
USA clears way for imports of Brazilian used cooking oil
10/07/2024 (Oils & Fats International) - The US government is opening the door to Brazilian imports of used cooking oil (UCO) by accepting international certification for the product, Bloomberg reports from a joint statement by the South American country’s ministries of foreign affairs and agriculture.
Palm drops more than 2pct on rising stock concerns, weak soyoil
09/07/2024 (New Straits Times), Mumbai - Malaysian palm oil futures fell more than 2 per cent on Tuesday, marking their biggest drop in a month, due to an expected rise in stockpiles and tracking losses in rival soyoil, following better-than-expected crop conditions for the U.S. soybean crop.
09/07/2024 (The Edge Malaysia), Kuala Lumpur - Crude palm oil (CPO) prices are expected to trade within the range of RM3,800 per tonne to RM4,200 per tonne in the second half of 2024 (2H2024), Malaysian Palm Oil Council (MPOC) chief executive officer Belvinder Kaur Sron said, with production conditions remaining the main factor influencing prices.