News
Analysts positive on plantation sector after palm oil inventories fell to one-year low in March
KUALA LUMPUR (April 12): Public Investment Bank Bhd (PIVB) has maintained its “overweight” rating of the plantation sector with a full-year crude palm oil (CPO) price forecast of RM4,300 per tonne. PIVB analyst Chong Hoe Leong said the rating was made after Malaysia’s March 2022 palm oil inventories...
Malaysia end-March palm oil stocks tick up as output, exports rise
KUALA LUMPUR (April 4): Malaysia’s palm oil stockpile is pegged to tick up at the end of March, as a rise in exports and plummeting imports offset growing production, a Reuters survey showed on Monday. Inventories in the world’s second-largest producer are forecast to rise 0.51...
Europe may be forced to turn to Malaysian palm oil
A major energy and food crisis is unfolding as a result of the war in Ukraine. Russian President Vladimir Putin is forcing European nations to pay in rubles for Russian gas. And the European Union is worried about the acute shortage of sunflower and rapeseed oils that may cause a dent in the food in...
Malaysia ready to cater to requirements on sustainable palm oil to ease edible oil shortage — MPOC
KUALA LUMPUR (March 30): Malaysian Palm Oil Council (MPOC) said Malaysia is ready to help and cater to the requirements on sustainable palm oil to substitute for sunflower oil amid an acute shortage in Iceland supermarkets. “Sustainable palm oil is a viable substitute for sunflower oil, and while th...
Food producers reversing palm oil ban amid shortage of sunflower oil
KUALA LUMPUR (March 28): The sudden shortage of sunflower oil supply has forced food producers to reverse their ban on palm oil and return to this vegetable oil as their frying fat and food ingredients. Iceland supermarket, which in 2018 pledged to remove palm oil from all its own-brand foods, made ...
Palm oil reverses after 4 days of losses as exports increase
PALM oil snapped a four-day losing streak as Brent crude oil steadied and traders assessed signs of stronger export demand. Futures for May delivery rose as much as 3.7% to RM6,359 a tonne, the biggest intraday gain in a week, before closing at RM6,335. The June palm oil contract, which has the high...
