NEWS FEED
  • 17 August, 2018
    Sliding currencies trigger palm oil demand concerns
    Sliding emerging market currencies are ringing alarm bells among traders concerned that palm oil demand will weaken across the region from China to Iran, as reduced purchasing power cuts into imports into countries like Turkey and India. With a plunging Turkish lira dragging down peer currencies, traders say they already see Indian buyers bargaining with key suppliers in Malaysia, the world's no. 2 producer, for lower prices. Importers also forecast fewer shipments to China and the Middle East this year.
  • 17 August, 2018
    In defence of Palm Oil
    MALAYSIA is a country that is built for business and trade. We are relatively small geographically and in population terms, but we have a dynamic economy, a skilled and educated workforce, and we are situated at the crossroads of strategically important trading routes. It is therefore natural that Malaysia’s trade, as a percentage of GDP, is 133% – compared with a global average of just 56%. As Malaysia’s business leaders look around the world, it is clear that there is a lack of leadership in international trade. The United States, China and the European Union are locked in bitter bilateral and trilateral disputes over trade, and other countries risk being caught in their lines of fire.
  • 17 August, 2018
    Malaysian palm oil price lifted by Short covering,market still bearish
    Malaysian palm oil futures reversed early losses to end higher on Thursday due to short covering, though traders said market sentiment was still bearish on trade and currency concerns. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange was up 0.3 percent at 2,222 ringgit ($542) a tonne at the end of the trading day. Trading volumes totalled 45,547 lots of 25 tonnes. "We're seeing some short covering, though the market is still bearish on trade concerns," said a Kuala Lumpur-based trader, referring to the ongoing U.S.-China trade dispute, adding though that China seeking negotiations with the U.S. could ease jitters.
  • 17 August, 2018
    Emerging market currency woes trigger palm oil demand concerns
    Sliding emerging market currencies are ringing alarm bells among traders concerned that palm oil demand will weaken across the region from China to Iran, as reduced purchasing power cuts into imports into countries like Turkey and India. With a plunging Turkish lira dragging down peer currencies, traders say they already see Indian buyers bargaining with key suppliers in Malaysia, the world's no. 2 producer, for lower prices. Importers also forecast fewer shipments to China and the Middle East this year. Slowing demand will weigh on benchmark palm prices, currently already trading around two-year lows. The benchmark price for the oil used in everything from cosmetics to soap was down 0.4% at RM2,207 (US$538.29) a tonne on Thursday morning.
  • 16 August, 2018
    Palm oil marketing efforts to be intensified in China
    The government is intensifying marketing efforts to increase palm oil exports and enhance trade ties with China in the face of challenging market conditions, says Primary Industries Minister Teresa Kok. The ministry would sign a collaboration memorandum and initiate free trade discussions with China in order to facilitate further export of Malaysian palm oil products to that country . “Prime Minister Tun Dr Mahathir Mohamad’s trip to China, scheduled for later this month, will be used as a platform to hold meetings and discussions on cooperation with the Chinese government,” Kok told the Dewan Rakyat today in reply to a question from Dr Azman Ismail (PKR-Kuala Kedah) who asked about the government’s strategy to increase palm oil exports to Europe and China.
  • 16 August, 2018
    Palm dips on weak CBOT soyoil, low export demand
    Malaysian palm oil futures edged lower in first-half trade on Wednesday, tracking losses in US soyoil and on weak export demand. Also, weighing on sentiment was weakness in the Indian rupee which has made imports expensive for local buyers in the South Asian nation. This will hurt palm oil export demand in Malaysia as India is the world's biggest importer of edible oils. The rupee fell to a record low of more than 70 per dollar level on Tuesday as concerns about Turkey's economic woes spreading to other emerging markets such as India persisted.
  • 16 August, 2018
    Malaysian palm oil price falls to near 2-week low on low export demand
    Malaysian palm oil futures fell on Wednesday to their lowest in nearly two weeks in the second half of trade, tracking losses in U.S. soyoil and on weak export demand. Also, weighing on sentiment was weakness in the Indian rupee which has made imports expensive for local buyers in the South Asian nation. This will hurt palm oil export demand in Malaysia as India is the world's biggest importer of edible oils. The rupee fell to a record low of more than 70 per dollar on Tuesday, amid concerns about Turkey's economic woes spreading to other emerging markets such as India.
  • 16 August, 2018
    CPO Price Trend for 2018 - An Update
    MPOC’s second POINTERS for the year 2018 was held from 6-12 August, 2018. This effort is timely as fresh factors affecting CPO price fluctuations have surfaced in the second half of 2018. A panel of experts in this POINTERS seminar were engaged to provide updated views of the edible oil market situation and forecast 2018 CPO price trend. Besides CPO price forecasting, their papers cover 2018 global oils and fats supply outlook, Malaysia’s palm oil supply and demand, USA soybean production, China and India’s edible oil market situation.
  • 15 August, 2018
    Malaysian palm oil price rebounds on weaker ringgit, short covering
    Malaysian palm oil futures rebounded from losses earlier in the day to chart a first day of gains in four sessions, lifted by a weaker ringgit and some short covering, traders said. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange edged up 0.4 percent to 2,213 ringgit ($540.42) a tonne at the close of trade.
  • 15 August, 2018
    Palm oil prices near bottom as U.S.-China trade war hurts soy
    The worst may be over for palm oil prices as the U.S.-China trade could may boost demand, helping bring this year’s more than 10% slide to an end. Palm oil tumbled along with soybean prices, after China imposed higher import tariffs on U.S. soy in an escalating trade dispute between the countries. But increasing biodiesel consumption in Indonesia and palm oil’s widening discount to soy means prices are now bottoming, according to Golden Agri-Resources Ltd, the world’s second-largest grower by area. “Palm oil prices have room for strengthening,” Richard Fung, the director of investor relations at Golden Agri said on Tuesday, after the company reported earnings. “We are at the bottom of the price range currently and we do see some room for improvement.”