NEWS FEED
  • 13 June, 2018
    Malaysian palm oil slides to near two-year low
    Malaysian palm oil futures dropped more than 1% to their lowest in nearly two years on Tuesday, weighed down by the government's decision to maintain an export tax for July and due to lackluster demand. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange dropped 1.44% to 2,326 ringgit (US$583.25 per tonne by the close of trade, the lowest since August 2016.
  • 13 June, 2018
    Malaysian palm oil price hits 5-week low on lean demand
    Malaysian palm oil futures extended losses to a five-week low on Tuesday, weighed down by the government's decision to maintain export tax for July and on lacklustre demand. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange fell 0.42 percent to 2,350 ringgit ($589.42) per tonne in morning trade, the lowest since May 4.
  • 12 June, 2018
    France seeks freeze on palm oil use, imports
    France wants to cap and progressively cut palm oil imports and will propose to do so at a European level, a junior minister said on Monday, as farmers block refineries across the country in protest against use of the vegetable oil in biofuels. "We will commit at EU level to cap, to freeze ... based on the total 2017 volumes, the volume of imported (palm) oil to reduce it gradually in the coming years," French junior ecology minister Sebastien Lecornu said on Europe 1 radio. The move is aimed at reducing the use of palm oil blamed for causing deforestation in southeast Asia, he said. French farmers were blocking access to oil depots and at least three refineries using tonnes of onions, wood and rubble on Monday as part of a three-day protest over plans to allow Total to use palm oil at a biofuel plant.
  • 11 June, 2018
    Malaysian palm oil price near one-month low, falls for 5th straight session
    Malaysian palm oil futures hovered near a one-month low and extended losses into a fifth straight session on Friday, tracking weaker soybean prices in Chicago, while slowing demand growth and higher inventories also weighed. The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 0.92 percent at 2,365 ringgit ($596.69) a tonne by the close. Trading volume stood at 63,613 lots of 25 tonnes.
  • 7 June, 2018
    Malaysia's exports expand 14 per cent YoY to RM84.24bil in April
    Malaysia’s exports grew 14 per cent year-on-year (YoY) to RM84.24 billion in April from RM73.79 billion a year ago, according to the International Trade and Industry Ministry. This was the second highest monthly exports value after the RM84.47 billion recorded in March, the ministry said. The growth was supported mainly by higher exports to Hong Kong, Asean, China, the European Union (EU), Taiwan, Bangladesh and South Korea.
  • 7 June, 2018
    New tool to help suppliers assess MSPO certification
    Wilmar International Ltd (Wilmar) has developed an online reporting tool to help Malaysian palm oil suppliers meet the Malaysian Sustainable Palm Oil (MSPO) national certification criteria. The Supplier Reporting Tool (SRT) enables suppliers to assess their performance based on MSPO requirements and Wilmar’s own No Deforestation, No Peat, No Exploitation (NDPE) policy. In a statement yesterday, Wilmar’s Group Sustainability general manager, Perpetua George said the SRT allowed the company to determine the compliance level of suppliers and assist those with lower scores to overcome setbacks in complying with sustainability requirements.
  • 7 June, 2018
    Global palm oil prices seen bullish after 2021 — Rabobank
    Global palm oil prices could enter a bullish phase starting 2021, owing to a projected production decrease in Indonesia and Malaysia over the period 2022 to 2025, on the back of land moratorium and slow replanting activities, according to the latest analysis of Rabobank Group. Rabobank anticipates the expected decrease in production to be because of the following factors: declining Fresh Fruit Bunches (FFB) yield of aging palm plantations, limited available land for expansion, and insufficient replanting activities in both countries.
  • 7 June, 2018
    Palm edges up on gains in US soybean, India duty hike
    Higher benchmark soybean prices in Chicago and India's plans to raise the import tax on soft oils pushed up Malaysian palm oil futures on Wednesday, a day after they hit their lowest in nearly a month. The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.12% at RM2,405 (US$605.41) a tonne at the midday break. Trading volume stood at 8,274 lots of 25 tonnes. "The market edged a little higher on the back of stronger soybean prices in Chicago," said a Kuala Lumpur-based palm trader.
  • 6 June, 2018
    Lower crude palm oil output in May, says CIMB Research
    CIMB Equities Research estimates that Malaysian palm oil inventory may have declined 4.7% month-on-month to 2.07 million tonnes as at end-May 2018. It said on Tuesday that findings from a survey of 26 plantation areas by the CIMB Futures team reveal that Malaysian CPO output likely fell by 5.8% month-on-month to 1.47 million tonnes in May 2018. Palm oil exports likely fell c.9.4% month-on-month, based on export statistics released by Societe Generale de Surveillance (SGS) and Amspec Malaysia. The official figures will be released on June 11.
  • 5 June, 2018
    Palm oil drops over 1pct on poor exports, stockpiles
    Malaysian palm oil futures fell more than 1% on Monday as traders were expecting build up in stockpiles due to sluggish export demand. The palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 1.31% at RM2,407 (US$606.30) a tonne by the close. Trading volume stood at 45,918 lots of 25 tonnes.