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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
May palm oil inventory seen to decline
08/06/2022 (The Star Online), Petaling Jaya - Malaysia’s palm oil inventory probably fell by 6.6% month-on-month (m-o-m) and 2.2% year-on-year (y-o-y) to 1.52 million tonnes at the end of May 2022, says CGS-CIMB Research, who believes the decline could be due to lower output despite higher exports.
Sustainable palm oil production is in Malaysia’s hand
07/06/2022 (East Asia Forum) - With Russia’s invasion of Ukraine constricting the global supply of edible oils, demand for palm oil has spiked. But as the war continues, supply remains uncertain. Indonesia’s export ban on crude palm oil, palm kernel oil and cooking oils added further strain.
Indonesia to cut maximum palm oil export tax and levy to a combined $488/T -trade minister
08/06/2022 (Reuters) - Indonesia Trade Minister Muhammad Lutfi said on Tuesday the government would bring down its combined maximum crude palm oil export and levy rate to $488 per tonne from $575 per tonne to encourage shipments.
Ban on palm oil import through Kerala ports bleeds consumers
07/06/2022 (The Hindu) - The ban on import of palm oil through Kerala ports, introduced to lift the sagging fortunes of coconut growers, it seems, could not do anything to raise the market potential of coconut oil as imported palm oil through neighbouring ports reach Kerala by road costing an extra ₹3 per/kg for an average customer.
Palm oil companies to be audited soon: Minister Pandjaitan
08/06/2022 (Antara News), Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has said that an audit of Indonesian palm oil companies will be conducted soon by the Development and Finance Comptroller (BPKP).
Cameroon's Palm-Oil Output Is Expected to Rise 10%
07/06/2022 (Market Watch), Cameroon - Palm oil produced in Cameroon is expected to rise by 10% this year, according to a forecast released Monday by the Bank of Central African States, or BEAC.
Palm oil may test support at 6,386 ringgit
07/06/2022 (Business Recorder), Singapore - Palm oil may test a support at 6,386 ringgit per tonne, a break could trigger a drop to a range of 6,204-6,317 ringgit.
Boustead Plantations signs RM45mil green financing deal with China Construction Bank
07/06/2022 (The Star Online), Kuala Lumpur - Boustead Plantations Bhd (BPB) has sealed a RM45 million green financing agreement with China Construction Bank (M) Bhd (CCBM) to facilitate its sustainable replanting exercise as part of its commitment towards environmental, social and governance (ESG) efforts.
Diminished global expansion projected
08/06/2022 (The Star Online), Petaling Jaya - Global economic growth is anticipated to slow down this year, with United States rate hikes moderating in the second half amid lingering energy shocks and supply chain disruptions, says HSBC Global Private Banking.
