NEWS FEED
  • 19 April, 2019
    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.
  • 18 April, 2019
    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.
  • 17 April, 2019
    Palm oil slips as stocks remain high
    Malaysian palm oil futures traded mostly range bound in the first half on Monday due to lack of bullish news, but edged lower at midday break as stockspiles remained high. The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange was down 0.1% at RM2,159 (US$525.30) a tonne at the midday break. The market had declined 2.8% on a weekly basis last week, but is up 2.5% so far for the month. "Stocks still look high," said a Kuala Lumpur-based trader, adding that inventory levels could still rise in April if exports slow down.
  • 17 April, 2019
    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.
  • 17 April, 2019
    Expert: Palm oil not linked with diseases
    Some critics have claimed that palm oil is linked with heart disease and other non-communicable diseases. But a nutritional biochemist pointed out that many studies have shown that saturated fat may not have an impact on heart disease risk. Wayne State University’s Depar­tment of Nutrition and Food Science Associate Prof Dr Pramod Khosla said that many such studies have since emerged since 2011. He added palm oil is a balanced oil with an equal amount of unsaturated and saturated fats.
  • 16 April, 2019
    RAM cuts CPO price forecast to RM2,200-RM2,400
    RAM Ratings lowered its crude palm oil (CPO) price forecast to an average of RM2,200 and RM2,400 a tonne in 2019 from RM2,300 and RM2,500 previously. It said on Monday CPO prices have been persistently weaker than expected (1Q 2019: RM2,017), weighed down by strong production growth that has in turn raised inventory levels.
  • 15 April, 2019
    Palm oil neutral in RM2,155-2,177 range
    Palm oil looks neutral in a narrow range of RM2,155-2,177 per tonne, and an escape could suggest a direction. The range is formed by the April 12 high and the 38.2% retracement of the downtrend from RM2,344 to RM2,038. The correction triggered by the resistance at RM2,227 seems to have ended around RM2,155. However, only a break above RM2,177 could confirm the completion. Even if palm oil rises above RM2,177, it will have to face a resistance at RM2,191.
  • 11 April, 2019
    Palm oil falls more than 2pct on bearish data
    Malaysian palm oil futures fell more than 2% to a one-week low in evening trade on Wednesday, as an official data release from the Malaysian Palm Oil Board (MPOB) showed March end-stocks and output were higher than forecast. The data, released during the midday break, showed that March end-stocks were down 4.6% from February at 2.92 million tonnes, while output rose 8.3% to 1.67 million tonnes. Meanwhile, exports surged by 22.4% from February to 1.62 million tonnes.
  • 10 April, 2019
    Support golden crop, fight anti-palm oil campaigns, Malaysians urged
    Malaysians should unanimously back the country’s golden crop and fight the anti-palm oil campaigns, says Primary Industries Minister Teresa Kok Suh Sim. She said support for palm oil from Malaysians is important in the fight against the European Union’s (EU) policies against the commodity. “It can help to increase the level of product awareness, including the benefits of palm oil, in Malaysia and other countries,” she told Bernama at the one-day “Love My Palm Oil” campaign held at the Parliament lobby here today.
  • 9 April, 2019
    ECRL deal including palm oil purchase from Malaysia a positive move
    The inclusion of palm oil purchase by China in the East Coast Rail Link (ECRL) potential revival deal is positive as it could allow Malaysia to potentially lock in higher palm oil export volumes to the republic over the next few years, said CIMB Research. The research firm said if the deal involves higher palm oil sales volumes from Malaysia to China compared to 2018’s 1.87 million tonnes, it would help boost Malaysia’s crude palm oil (CPO) price via the drawdown of stocks.