News
CPO futures hit fresh all-time high of RM5,667
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed at an all-time high of RM5,667 a tonne for the April contract. Singapore-based Palm Oil Analytics owner and co-founder Sathia Varqa said the price surged following news of the CPO import duty cut by India to...
India cuts tax on CPO imports to help consumers, refiners
MUMBAI (Feb 14): India has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification as the world’s biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers. The reduction in the ...
Malaysia’s Jan 2022 palm oil inventory unexpectedly fell as export drop outpaced output decline
KUALA LUMPUR (Feb 10): Malaysia’s January 2022 total palm oil inventory, comprising crude palm oil (CPO) and processed palm oil, unexpectedly fell from a month earlier as export of the commodity dropped by a larger quantum compared to its production, the Malaysian Palm Oil Board (MPOB) said on...
Concerns over weaker demand weigh on CPO prices
KUALA LUMPUR (Feb 10): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on concerns over weaker demand, according to a dealer. Palm oil trader David Ng said weakness in the soybean oil market at the US Chicago Board of Trade (CBOT) and Dalian Commodity Exchange als...
Palm Oil Export Revenue From Middle East To have Positive Short Term Outlook: MPIC
The Ministry of Plantation Industries and Corporations reckons that the exports revenue coming from the Middle Eastern region is expected to have a positive short-term outlook following the number of events happening in the region. Deputy Minister Wille Anak Mongin, said the ongoing World Expo 2020 ...
MPOC: Malaysian sustainable palm oil-based products to be available in Dubai
DUBAI (Feb 9): Malaysian palm oil-based products namely food products, cosmetics and pharmaceuticals will be made available at LuLu Hypermarkets in Dubai, following a collaboration sealed between the Malaysia Palm Oil Council (MPOC) and Lulu International Group. The MPOC and the Indian multinat...
