News
Are days of ‘super-high’ CPO prices gone?
PETALING JAYA: Commodity prices that stoked inflation are falling fast and this includes crude palm oil (CPO), which saw prices tumble by almost a quarter in less than a month. On June 22, Malaysia’s daily average CPO price fell to the lowest level this year at RM5,046 per tonne, about RM3,000 lower...
Palm oil sinks further into bear market as more losses expected
(June 20): Palm oil fell deeper into bear market territory on concern that surging Indonesian exports will challenge cargoes from Malaysia, with the most active contract sliding below RM5,000 for the first time since January. Futures for September delivery lost as much as 9.1% to RM4,958 (US$1...
CPO futures forecast to trade with downside bias next week
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is forecast to trade with a downside bias as the market continues to be plagued with expectations of higher output next week. Palm oil trader David Ng said the outlook is expected to be bearish following the higher...
India’s May palm oil imports surge to 7-month high despite Indonesia’s ban-dealers
MUMBAI, June 6 (Reuters) – India’s palm oil exports in May were its highest in seven months and up 15% on April as the country overcame curbs on Indonesian exports by sourcing more of the commodity from Malaysia, Thailand and Papua New Guinea, five industry officials said....
CPO futures end higher for second consecutive day
KUALA LUMPUR (June 1): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher for the second consecutive day on Wednesday as sentiment over stronger exports continues to lift the market, said a dealer. Palm oil trader David Ng said the expected weaker production in the ...
Malaysia palm oil prices seen trading above 6,000 rgt in 2022 -state agency
KUALA LUMPUR : State agency the Malaysian Palm Oil Council (MPOC) on Wednesday lowered its production outlook for the world’s second largest producer and pegged prices to remain above 6,000 ringgit ($1,367.37) a tonne this year. MPOC forecast Malaysia’s 2022 production at 18.6 million to...
