NEWS FEED
  • 17 July, 2018
    EU not singling out palm oil — delegate
    The European Union (EU) is “open to palm oil” as no legislation has ever been formed to specifically ban the edible oil in the EU market, said a head of EU delegation to Malaysia. “The European market is open to palm oil. I want to say that very clearly. And EU is the second largest market for palm oil from Malaysia,” said ambassador and head of EU delegation to Malaysia Maria Castillo Fernandez. Speaking to the press on the sidelines of an EU-Malaysia trade forum here, Fernandez clarified that “there is no mention of palm oil” when it comes to the EU’s plan to phase out biofuel use in transport fuel by 2030.
  • 16 July, 2018
    Headwinds aplenty for palm oil
    THE resilience of the plantation sector is being put to the test by a series of bearish factors, which has seen crude palm oil (CPO) prices heading south in recent weeks. Industry players are generally spooked by the drastic fall in CPO prices, which is a key indicator to gauge their operational costs and profit margins. The price of CPO has fallen by about 14% year-to-date, and is currently trading at RM2,147 per tonne.
  • 16 July, 2018
    Palm oil seen under pressure in 2H
    Palm oil prices, which have fallen to their lowest in three years, are expected to remain under pressure in the second half of 2018 (2H18), with a limited increase seen, according to analysts. On last Friday’s close, the benchmark palm oil third-month contract for September delivery fell RM38 to settle at RM2,159 per tonne, its lowest closing price in the futures market since September 2015. On a month-on-month basis, this translates into a sharp RM172 or 7.4% decline, from RM2,331 on June 12.
  • 16 July, 2018
    Malaysian palm oil/Vegoils: Market factors to watch Monday July 16
    Malaysian palm oil futures fell to their lowest in nearly three years on Friday evening in a fourth session of losses, tracking declines in related edible oils. U.S. soybean futures slid to fresh lows on Friday and the most-active contract closed at the lowest in nearly a decade after a government report reinforced concerns that the trade dispute with China will dent exports and lead to a build-up in stocks. Oil prices rose about 1 percent on Friday as strike actions in Norway and Iraq hit supplies, but futures were set for a second straight week of decline after Libyan ports reopened and on the view that Iran might still export some crude despite U.S. sanctions.
  • 13 July, 2018
    Palm hits lowest in almost three years on weaker Dalian oils
    Malaysian palm oil futures dropped to their lowest in nearly three years on Thursday, tracking overnight declines in related edible oils, before trimming some losses on the back of a weaker ringgit. A weaker ringgit, palm's currency of trade, typically lends support to the edible oil by making it cheaper for foreign buyers. The ringgit weakened by 0.1% against the dollar to 4.0395 on Thursday evening. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 0.8% at RM2,186 (US$541.16) a tonne at the close of trade for a third straight session of losses.
  • 13 July, 2018
    Malaysian palm oil price hits lowest in almost 3 years
    Malaysian palm oil futures dropped to their lowest in nearly three years on Thursday, tracking overnight declines in related edible oils, before trimming some losses on the back of a weaker ringgit. A weaker ringgit, palm's currency of trade, typically lends support to the edible oil by making it cheaper for foreign buyers. The ringgit weakened by 0.1 percent against the dollar to 4.0395 on Thursday evening.
  • 12 July, 2018
    Palm oil inventory expects to rise five pct to 2.30m tonnes in July
    Palm oil inventory stock should rise five per cent to 2.30 million tonnes with an anticipation of a supply growth of 1.69 million tonnes this month. Kenanga Research said production should also rebound 23 per cent to 1.64 million tonnes, followed by the recovery in export volume of 18 per cent to 1.33 million tonnes in July. As of end-June, Malaysia palm oil inventory was 2.19 million tonnes with 13 per cent declined in mom in export volume, attributed by weak export to China. “We expect the trend reversal on palm oil stocks to contribute to softer crude palm oil (CPO) prices in the second-half (2H) 2018. With risks (soft soybean price, higher palm production, higher Indonesian supply) outweighing opportunities (supportive crude oil price, better Indian and biodiesel demand),” it said in a research report.
  • 12 July, 2018
    Malaysia lowers August crude palm oil export tax to 4.5 percent
    Malaysia lowered its export tax on crude palm oil for August to 4.5%, the Malaysian Palm Oil Board said on Wednesday, citing the national customs department. The export tax in July was 5%. Malaysia is the world's second-largest producer of palm oil.
  • 12 July, 2018
    Analysts see continued uptrend in Malaysia’s palm oil stockpile
    Malaysian palm oil stockpiles for the month of July are seen to continue to rise, after a higher-than-expected stockpile as at end-June and surveyor statistics showing weakened exports in the first ten days of this month. According to CGS-CIMB research estimates, palm oil stocks could rise 11% month-on-month to 2.42 tonnes at end-July, while production could grow 9% on month as harvesting activities pick up following the return of workers from the festive celebration.
  • 12 July, 2018
    Malaysian palm oil price drops over 2% on US-China trade conflict
    Malaysian palm oil futures fell over 2 percent to a two-year low on Wednesday evening, tracking weakness in related oils on China's Dalian Commodity Exchange and as an escalating U.S.-China trade conflict weighed on the market. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 2.4 percent at 2,204 ringgit ($545.95) a tonne at the close of trade, after hitting its lowest since July 14, 2016 at 2,202 ringgit.