NEWS FEED
  • 23 May, 2018
    Malaysian palm oil price hits 6-week peak on stronger crude oil and soyoil
    Malaysian palm oil futures climbed to a six-week high in evening trade on Tuesday, charting a third session of gains in four, tracking overnight strength in U.S. soyoil and crude oil prices. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 1.3 percent at 2,477 ringgit ($624.64) a tonne at the end of the trading day for its largest percentage gain since May 14.
  • 22 May, 2018
    Malaysian palm falls in late trade on weak export data
    Malaysian palm oil futures declined on Monday evening, snapping two sessions of gains, weighed down by weaker export data from a cargo surveyor and an inspection company. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange fell 0.2 percent to 2,446 ringgit ($614.88) a tonne at the close. The contract had risen 1.3 percent to 2,481 ringgit earlier in the session, its highest since April 9, buoyed by overnight strength in U.S. soyoil on the Chicago Board of Trade and a weaker ringgit, as this makes palm oil cheaper for holders of foreign currencies.
  • 22 May, 2018
    Malaysian palm oil/Vegoils: Market factors to watch Tuesday May 22
    Malaysian palm oil futures declined on Monday evening, snapping two sessions of gains, weighed down by weaker export data from a cargo surveyor and an inspection company.
  • 21 May, 2018
    Crude Palm Oil Weekly Report – May 19, 2018
    Malaysian palm oil futures ended the week trading to the highest in more than five weeks, attributed to gains in related edible oils and crude oil while underpinned by a weaker ringgit despite setbacks from weaker export data. The benchmark crude palm oil futures (FCPO) contract rose 4.78 per cent to RM2,449 on Friday, which is RM58 lower than RM2,332 during the previous week. The average daily trading volume during Monday, Wednesday and Thursday increased 23.72 per cent with a total average of 50,861 contracts traded, as compared with a total average of 38,797 contracts traded during last Monday to Thursday.
  • 18 May, 2018
    Palm rises on bargain-hunting, weaker ringgit
    Malaysian palm oil futures recovered from a one-week low on Thursday and ended trading higher on the back of bargain-buying and a weaker ringgit, its currency of trade. Gains in the Chicago Board of Trade soyoil also lent support to the market, said traders. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.8% at RM2,432 (US$613.06) a tonne at the close of trade. Earlier in the session, it hit the lowest since May 8 at RM2,399.
  • 17 May, 2018
    Palm oil falls on weaker related oils, slow demand
    Malaysian palm oil futures edged down in early trade on Wednesday, in line to snap two previous days of gains, tracking weaker related oils and on slowing export demand. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 0.6% at 2,422 ringgit (US$611.15) a tonne at midday break, its sharpest fall in nearly two weeks. Palm had earlier jumped to a one-month high on Monday, tracking a weaker ringgit, following the election defeat of a coalition that ruled the country for six decades.
  • 17 May, 2018
    Ukraine's parliament outlaws use of palm oil for food production
    Ukraine's Verkhovna Rada on May 15 passed bill No. 3871 at first reading to amend some Ukrainian laws to outlaw the use of palm oil for food production.
  • 16 May, 2018
    Palm oil extends gains on weaker ringgit
    Malaysian palm oil futures rose on Tuesday evening for a second straight session of gains, supported by a weaker ringgit and slight strength in CBOT soyoil futures. Weakness in the ringgit typically boosts demand by making the tropical oil cheaper for holders of foreign currencies. The ringgit weakened by 0.15% to 3.9540 per dollar at the end of the trading day. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was up 0.7% at RM2,432 (US$615.07) a tonne at the close of trade.
  • 15 May, 2018
    India palm oil imports seen falling as higher duties curb demand
    India’s palm oil imports probably dropped in April as higher taxes on shipments curbed demand in the world’s biggest buyer. Purchases fell about 1.7% to 740,000 metric tons from a year earlier, according to the median of four estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil imports decreased 9.7% to 1.21 million tons, the survey showed. The Solvent Extractors’ Association of India is expected to release its monthly trade numbers this week. Lower imports by India may drag down palm oil prices, which have fallen in five out of six months through April. Benchmark futures in Malaysia have lost 4.9% so far this year on expectations of higher production and after India increased import taxes on the vegetable oil in March.
  • 15 May, 2018
    Palm jumps to highest in more than four months
    Malaysian palm oil futures rose 3% on Monday, their biggest intraday gain in more than four months, buoyed by early losses in the ringgit and lower than forecast end-stocks data from an industry regulator. A weaker ringgit, palm's currency of trade, typically lends support to palm oil prices, because it makes the tropical oil cheaper for holders of foreign currencies. The ringgit weakened nearly 1% against the dollar to a four-month low in early trade on Monday but recovered to close flat at 3.9480 on Monday evening.