News
Palm oil extends four-day drop to 13% on Brent crude slump
KUALA LUMPUR (March 15): Palm oil stretched losses over four days to 13%, retreating from record highs, as petroleum prices plunge and traders keep a close watch on whether top grower Indonesia issues more export permits. Futures for May delivery fell as much as 5.7% to RM5,996 a ton, before cl...
Focus on improving yields, palm oil players advised Amir Imran Husain
PETALING JAYA: Palm oil players should focus on increasing yields and not hectarage as a way out of the unusual crude palm oil (CPO) supply crunch which has seen CPO futures contract hitting an all time high of RM8,163 per metric ton (pmt), according to Inter-Pacific Securities head of research Vict...
MPOB: Firmer crude oil, Russian invasion of Ukraine push CPO price to new record
KUALA LUMPUR (March 2): The surge in crude palm oil (CPO) price is closely connected to the price hike in Brent crude as a result of the Russian invasion of Ukraine and the production limit set by the Organisation of the Petroleum Exporting Countries (Opec), according to the Malaysian Palm Oil Board...
Palm oil tops RM8,000 for first time amid sunflower oil supply disruption
KUALA LUMPUR (March 1): Crude palm oil (CPO) prices topped RM8,000 a tonne for the first time on Tuesday (March 1), as consumers rushed to source the oil amid the shortfall in sunflower oil caused by the Russia-Ukraine crisis. At the close of trading, March CPO futures contract jumped RM712 to RM8,1...
Palm oil to get support from conflict-induced supply disruptions
THE Ukraine-Russia conflict is set to help keep crude palm oil (CPO) prices at historic highs for a longer period as the edible oil market faces a sharper squeeze while the price trends attract more directional trading interest. The benchmark CPO futures (FCPO) contract hit a historic high of ...
Zuraida: Malaysia to raise palm oil output this year after hiring more foreign workers
NEW DELHI (Feb 22): Malaysia will increase its palm oil production this year following a 5% decline last year due to a Covid-19 pandemic-induced labour shortage with the intake of more foreign workers. Thousands of new plantation workers will be being hired from Bangladesh, India and Indonesia ...
