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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
Johari: Palm oil prices risk uncompetitiveness without WPL revision
04/07/2024 (The Star), Bangi - The price of palm oil will become uncompetitive compared to other producing countries if the windfall profit levy (WPL) on palm oil in this country is not revised.
Apical Doubles Palm Oil Refining Capacity in West Sumatra, Indonesia
04/07/2024 (Media OutReach Newswire), Padang, Indonesia - Apical, a leading vegetable oil processor, held a groundbreaking ceremony today at its PT Padang Raya Cakrawala (PRC) facility to mark the construction of a new crude palm oil (CPO) refinery and fractionation plant for cooking oil production. Located in Padang City, West Sumatra, Indonesia, these new plants are set to boost Apical's production capacity to meet growing demands of both domestic and international markets.
Palm oil ends lower; export and production data in focus
04/07/2024 (Reuters), Jakarta - Malaysian palm oil futures dropped on Thursday, tracking loss in the Dalian soyoil contract, while the market awaited for export and production data from the Malaysian Palm Oil Board (MPOB).
Malaysia palm reserves seen at four-month high on low demand
04/07/2024 (The Malaysian Reserve) - PALM OIL stockpiles in Malaysia probably hit the highest level since February as exports from the world’s second-largest grower slumped. Still, expectations for better demand ahead boosted prices to a two-month high.
Edible Oil Manufacturers Decry Import Duty Imposed On Crude Oil
04/07/2024 (Capital News), Nairobi, Kenya - Cooking oil manufacturers have expressed deep concern over the introduction of a 10 percent import duty on crude oil warning it will cause significant price increases for cooking oil, an essential staple for millions of Kenyan households.
03/07/2024 (The Edge Malaysia), Kuala Lumpur - Dry weather conditions affecting palm oil yield along with gains in soybean oil and palm olein futures have pushed Malaysian crude palm oil (CPO) prices above RM4,000 per tonne for the second consecutive day, said industry observers.
Hindustan Unilever to reduce palm oil content in soaps by 25%
03/07/2024 (Oils & Fats International) - Global consumer goods giant Unilever is reducing the palm oil content in its soaps in India by 25% as part of a wider strategy to offset volatility in commodity prices and reduce environmental impact, according to a report by the Economic Times.
Resources Nationalism Meets Green Trade: The Role of Palm Oil Plantation for Indonesia’s Green Growth
03/07/2024 (The Geopolitics) - Green or sustainable trade is the only possible way to make a clear progress in the climate agenda. Indonesia, as the world’s center of commodity production, has to take a step in the connectivity between commodity and green trade in the age of climate crisis. Economic and environmental factors are linked, and achieving success in one sector depends on proactive measures in other sectors. Moreover, Indonesia’s market commodity plays a vital role in the nation’s GDP.
Cooking oil prices set to go up as new import duty takes effect
04/07/2024 (The Standard) - The Association of Edible Oil Manufacturers has called on the government to put on hold plans to impose a 10 per cent import duty on crude palm oil, to forestall an increase in cooking oil prices.