News
Palm oil climbs to seven-week high on flood fears in top growers
KUALA LUMPUR (Oct 19): Palm oil advanced to the highest intraday level in seven weeks on worries that storms and floods in major growers could disrupt supply, while investors are also on alert for a potential import tax hike in top buyer India. Indonesia has issued flood warnings for provinces in Ka...
MPOC supports enforcement action against ‘No Palm Oil’ labels
KUALA LUMPUR: The Malaysian Palm Oil Council (MPOC) has voiced its support for enforcement actions to be taken against supermarkets and outlets displaying and selling products with ‘No Palm Oil’ on their label and packaging. The use of discriminatory labels against palm oil is prohibited under the T...
CPO futures continue positive momentum for fifth day
KUALA LUMPUR (Oct 5): Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives continued its rally to close higher, tracking gains in both soybean oil on the Chicago Board of Trade (CBOT) and the crude oil market. “We located the support level at RM3,500 a tonne and resistance at RM3,800...
Indonesia plans extension of palm oil export levy waiver to year-end
JAKARTA: Indonesia, the world’s biggest producer of palm oil, may extend an export levy waiver on the edible oil to the end of this year, its chief economic minister said on Tuesday. Indonesia started waiving levies imposed on exports of palm oil products from mid-July to help reduce a stock g...
Palm recovers after five days on stronger soyoil, export data optimism
JAKARTA (Sept 29): Malaysian palm oil futures rose on Thursday (Sept 29), after plunging to a near 20-month low in the previous session, as gains in rival oils and expectations for solid export data boosted sentiment. The benchmark palm oil contract for December delivery on the Bursa Malaysia Deriva...
CPO futures continue to trend lower as headwinds loom
KUALA LUMPUR, Sept 27 — Crude palm oil futures contracts on Bursa Malaysia Derivatives continued its downtrend to close lower today as headwinds remain following a pessimistic global economic outlook of rising inflation, soaring interest rates and the strengthening US dollar. Singapore-based Palm Oi...
