NEWS FEED
  • 18 January, 2019
    Palm edges lower, on track for second day of declines
    Malaysian palm oil futures edged lower in a range-bound trading on Thursday ahead of likely price forecasts at an industry event and as crude oil prices fell. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange eased 0.1% to RM2,174 a tonne at noon, heading for a second straight session of losses. Trading volumes stood at 10,288 lots of 25 tonnes each at the midday break.
  • 18 January, 2019
    Palm oil may fall to RM2,150
    Palm oil may fall to RM2,150 per tonne, to fill a gap forming on between Jan 15 and Jan 16. The gap was basically due to a switch of the contracts between the front month and the second month. It looks like a common gap which will be filled. The gap is not powerful enough to alter the bearish readings. An uptrend from RM1,940 is still believed to have peaked around RM2,198, the 176.4% projection level of an uptrend from RM1,979.
  • 18 January, 2019
    Malaysia urges WHO to retract, rectify discriminatory palm oil report
    The Primary Industries Ministry said today it will utilise all available channels to urge the World Health Organisation (WHO) to retract or rectify its report that drew a parallel between lobbying tactics used by the palm oil industry and those in the alcohol and tobacco sectors. According to news reports, WHO had in a study published last week claimed that the tactics were used to influence public and political discussion on health and environmental effects of palm oil products.
  • 17 January, 2019
    Palm falls on weaker US soyoil, crude oil prices
    Malaysian palm oil futures edged down on Wednesday, though remained range-bound, tracking weakness in soyoil overnight on the U.S. Chicago Board of Trade and crude oil prices. The benchmark palm oil contract for April delivery on the Bursa Malaysia Derivatives Exchange was down 0.4 percent at 2,175 ringgit ($529.45) a tonne at the close of trade.
  • 17 January, 2019
    Malaysia sends letter to France over declassification of palm oil
    Malaysia has handed over a letter to France explaining its position on the French National Assembly’s decision to declassify palm oil as biodiesel feedstock in the country. Foreign Minister Datuk Saifuddin Abdullah said the letter from Prime Minister Tun Dr Mahathir Mohamad to French President Emmanuel Macron was handed over to the French Ambassador in Kuala Lumpur on Monday. On Dec 19, 2018, the French National Assembly adopted an amendment to its 2019 Budget to exclude the use of palm oil as biodiesel feedstock and to end tax incentives for palm oil as of 2020.
  • 17 January, 2019
    Malaysia urges France to accord equal opportunities to palm oil trade
    Malaysia is urging France president Macron to stop discriminating and accord equal opportunities to palm oil trade like that of other vegetable oils such as rapeseed and sunflower. In a statement, Foreign Affairs Minister Datuk Saifuddin Abdullah said French National Assembly’s move to exclude the use of palm oil as a biodiesel feedstock and end tax incentives for palm oil as of 2020 is seen as a “defacto ban”.
  • 15 January, 2019
    Palm in sharpest fall in 6 weeks on expectations for slower export growth
    Malaysian palm oil futures saw its sharpest daily decline in six weeks on Monday, reversing earlier gains after the market turned bearish ahead of export data from cargo surveyors. The data, due on Tuesday, is expected to show slowing growth in exports for the Jan. 1-15 period, compared to Jan. 1-10 when they surged by around 50 percent, said a Kuala Lumpur-based trader.
  • 14 January, 2019
    Palm oil may retest support at 2,150 ringgit
    Palm oil may retest a support at 2,150 ringgit per tonne, a break below which could cause a loss to the next support at 2,121 ringgit. These supports are identified respectively as the 138.2 percent and the 114.6 percent projection levels of an upward wave c from 1,979 ringgit. The uptrend from 1,940 ringgit could be well divided into five waves. This structure suggests a completion of the trend. Further bearish indication comes from the two failed attempts to break a resistance at 2,198 ringgit. These failures indicate the formation of a double-top around this level.
  • 14 January, 2019
    Malaysian palm oil market factors to watch Monday Jan 14
    Malaysian palm oil futures rebounded from a one-week low on Friday, tracking rises in crude oil prices. U.S. wheat futures rallied from one-week lows on Friday in a technical and bargain-buying bounce as a weakened U.S. dollar and rising wheat prices in rival exporting nations boosted prospects for U.S. shipments.
  • 11 January, 2019
    Malaysian palm oil price in sharpest fall in 2 weeks on bearish data
    Malaysian palm oil futures declined at their sharpest daily rate in two weeks by the end of trade on Thursday, snapping two sessions of gains, on bearish official data on December inventories, production and exports.