Palm oil may retest resistance RM2,227

Palm oil may retest a resistance at RM2,227, as it has stabilised around a support at RM2,191 per tonne. The support and the resistance are identified as the 50% and the 61.8% retracements of the downtrend from RM2,344 to RM2,038.

Daim: Be one step ahead in tackling palm oil's yo-yo market

Malaysia must be one step ahead in planning ways to react to the price volatility in the palm oil market to protect the country's source of income, as well as the wellbeing of the smallholders, says Council of Eminent Persons chairman Tun Daim Zainuddin. He said since Malaysia is a small country and 80% of its crude palm oil (CPO) and palm oil-based products are exported, it is vital for the country to team up with Indonesia, the world largest producer of the commodity, especially in tackling the challenges from the European Union (EU) and the US-China trade dispute.

China injects RM3.7bil palm oil deal, more to come

China is committed to significantly increase the purchase of Malaysian palm oil, following the revival of the stalled East Coast Rail Link. Following good demand from 300 million out of its 1.4 billion population, it is keen on not only doing that, but also assisting Malaysia in improving the crops’ yield. Revealing this, China’s ambassador to Malaysia Bai Tian said the republic was going a step further by also eyeing bilateral offset deals that involve defence, aerospace, security, maritime, construction and financial services.

Malaysia keeps May crude palm oil export duty at 0pct

(April 17): Malaysia kept its export duty on crude palm oil for May at 0%, according to a circular on the Malaysian Palm Oil Board's website on Wednesday that cited the national customs department. The duty has been at 0% since September.

Malaysia might continue suspending FTA talks with EU and EFTA

Malaysia may continue to suspend Free Trade Agreement (FTA) talks with the European Union (EU) and the European Free Trade Association (EFTA) until the issue of unfair and discriminatory practices against palm oil is resolved. International Trade and Industry Ministry deputy secretary general (trade) Datuk Seri Norazman Ayob said Malaysian palm oil crop was singled out for deforestation with the highest in-direct land use risk, contributing to high carbon emission.

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