NEWS FEED
  • 12 December, 2018
    Malaysian palm oil price drops over 1pct on expectation of higher Dec stocks
    Malaysian palm oil futures fell more than 1 percent on Tuesday evening, erasing most of the previous session's sharp gains, as falls in crude oil prices and expectations of higher inventories of the vegetable oil in December weighed on the market. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 1.3 percent at 2,015 ringgit ($483.91) a tonne at the close of trade, after declining as much as 2 percent to 2,001 ringgit earlier in the session. The declines were its sharpest daily levels in a week.
  • 7 December, 2018
    Malaysian palm oil price rebounds from one-week low
    Malaysian palm oil futures recovered from a one-week low hit earlier on Thursday as traders forecast slowing output amid some short-covering. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 0.5 percent at 2,005 ringgit ($481.74) a tonne at the close. It earlier dropped to 1,979 ringgit, its lowest since Nov. 28, tracking weakness in other related edible oils and crude.
  • 7 December, 2018
    Kok: All states agree to stop oil palm expansion
    The Sabah and Sarawak state governments have agreed with the federal government to stop expansion of oil palm area in the country, said Primary Industries Minister Teresa Kok. “Land matters come under the purview of state governments,” she told reporters after officiating the ‘Certified Sustainable Palm Oil Forum: Moving Forward with MSPO Timeline of 2019’ organised by the Malaysian Palm Oil Certification Council here today.
  • 6 December, 2018
    Malaysia's Nov palm oil stocks seen at 3 mil tonnes
    Malaysia's palm oil stocks at end-November are likely to touch the 3-million-tonne mark, their highest in recent years, as the drop in exports outweighed leaner production, according to a Reuters survey. Based on the median estimate of eight planters, traders and analysts, stockpiles are expected to jump 10.8% from the previous month to 3 million tonnes, their strongest levels in nearly 18 years, according to Refinitiv data.
  • 6 December, 2018
    Sarawak to help tackle campaign against palm oil
    The Sarawak government will contribute to the Malaysian Palm Oil Board (MPOB) Research Fund as part of efforts to tackle negative campaigns against Sarawak’s oil palm. Deputy Chief Minister Datuk Amar Douglas Uggah said through the contribution, it is hoped that the scientists would be able to come up with stronger scientific evidence the value of Sarawak’s oil palm. “The government is going to contribute to the MPOB Research Fund in order to reach out to more scientists around the world to come up with more stronger scientific evidence on the value of our oil palm in terms of nutrition and so on.
  • 6 December, 2018
    Indonesia palm oil levy to kick in at US$570/T — finance ministry
    Indonesia has eased rules on palm oil levies and derivative products following a drop in prices, according to a finance ministry regulation on a government website on Wednesday, an effort to make the nation's palm oil exports more competitive. The world's top exporter of palm oil will not collect levies from palm exporters when prices are below a threshold of US$570 per tonne, but will charge US$10-US$25 a tonne, once prices are in a range of US$570-US$619 per tonne. The levy will rise to US$20-US$50, when prices hit above US$619 per tonne.
  • 6 December, 2018
    Malaysian palm oil price drops on high stock outlook, Indonesian levy change
    Malaysian palm oil futures fell more than 1 percent on Wednesday due to expectations of rising inventories in Malaysia and a change in Indonesia's export levy rules. Indonesia relaxed rules on palm oil levies and derivative products effective immediately following a drop in prices, the country's finance ministry said on Wednesday. It will not collect levies from palm exporters when prices are below $570 per tonne, but will charge $10-$25 a tonne once prices are in a range of $570-$619 per tonne. The levy will rise to $20-$50 when prices hit above $619 per tonne.
  • 5 December, 2018
    Malaysian palm oil/Vegoils: Market factors to watch Wed Dec 5
    Malaysian palm oil futures reversed earlier losses to gain at the end of the trading day, supported by a correction and on strength in crude oil prices. U.S. soybean futures edged higher on Tuesday on hopes that a U.S.-China trade war truce over the weekend would result in fresh Chinese demand for U.S. soybeans, although no deals have been confirmed.
  • 5 December, 2018
    Malaysian palm oil price rebounds on correction, stronger crude oil
    Malaysian palm oil futures reversed earlier losses to gain at the end of the trading day, supported by a correction and on strength in crude oil prices. The market had earlier been range trading, and was slightly down at the midday break ahead of a poll and an official data release for November. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 0.9 percent at 2,017 ringgit ($486.61) a tonne at the end of the trading day, its strongest gains in a day since Nov. 28.
  • 4 December, 2018
    Malaysian palm oil price slips nearly 2pct on worries of high stockpiles
    Malaysian palm oil futures fell nearly 2 percent at the close of trade on Monday after reaching a more than one-week peak, hit by concerns over high stockpiles and expectations that Indonesia would remove its palm oil export levy. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange was down 1.96 percent at 2,000 ringgit ($480.42) a tonne at the end of the trading day, its sharpest daily decline in a week and snapping three sessions of gains.