News
Crude palm oil sees tug of war between bull and bears
THE prices of the benchmark active Malaysian crude palm oil futures contract remained ensnared in a tight range throughout the week starting Feb 19, weighed down by a medley of conflicting fundamental data. Weak exports and decreased production during this period painted the picture of cautious cons...
CPO futures likely to trend upward next week
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade higher next week due to ongoing positive sentiment, a dealer said. Palm oil trader David Ng said positive sentiment in the palm oil market is expected to continue to build up in the upcoming week...
Sime Darby Plantation expects palm oil prices to stay elevated this year
KUALA LUMPUR (Feb 22): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Thursday palm oil prices may stay elevated at around current levels this year. Crude palm oil may range between RM3,700 and RM3,900 per tonne this year, said its managing director Datuk Mohama...
BMI revises 2024 forecast for palm oil futures contracts to RM3,750 per tonne
KUALA LUMPUR: BMI Country Risk & Industry Research (BMI), a product of Fitch Solutions Group Ltd, has made an upward revision to its forecast for the average price of Bursa Malaysia-listed third-month palm oil futures contracts in 2024 to RM3,750 per tonne from RM3,515 per tonne previously. It s...
Analysts neutral on plantation sector with crude palm oil seen averaging RM3,800 per tonne
KUALA LUMPUR, Feb 14 ― Kenanga Research has forecast the price of crude palm oil (CPO) to trade range-bound and average around RM3,800 per tonne in a tight outlook for edible oils in 2024. The research house said that with supply matching demand or possibly dipping into a small deficit, the commodit...
Palm oil stockpile expected to dip further in February to below 2mil tonnes
KUALA LUMPUR: Palm oil stockpile is expected to dip below two million tonnes in February as palm oil production is likely to decline further following a downtrend for the third consecutive month in January. Hong Leong Investment Bank (HLIB) research said palm oil’s stock levels dropped 11.8 pe...
