News
Palm rises 1% on signs of growing demand; rising output view weighs
KUALA LUMPUR (June 23): Malaysian palm oil futures ended over 1% higher on Wednesday, lifted by signs of improving demand and strength in rival edible oils, but gains were capped by estimates of rising output. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives E...
Palm oil price reverses gains as India puts import tax cut plans on hold
SINGAPORE: Malaysian palm oil futures reversed earlier gains to fall 1% on Thursday, as top buyer India put its import tax cut plans on hold, although a weaker ringgit limited further losses. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed dow...
Palm falls more than 4% tracking weak US soyoil
JAKARTA (June 16): Malaysian palm oil futures plunged by more than 4% on Wednesday, shedding sharp gains from the previous session after a fall in soyoil prices on an improved weather outlook for the US Midwest crop belt. The benchmark palm oil contract for September delivery on the Bursa Malaysia D...
Palm oil output at risk as lockdown worsens labour shortage
“The crux of the issue is the labour shortage. We have lost of about 20% to 30% of our potential production because of this, ” according to Datuk Nageeb Wahab, chief executive at the Malaysian Palm Oil Association, a growers’ group that represents 40% of palm plantations by area. “That would have go...
CPO prices expected to see quick and sharp recovery, says Dorab Mistry
KUALA LUMPUR (June 15): Crude palm oil (CPO) prices are expected to see a quick and sharp recovery following the declines that have been seen in the past few trading days, opined veteran vegoil analyst and Godrej International Ltd director Dorab Mistry. Speaking during a webinar hosted by UOB Kay Hi...
WTO accepts Malaysia’s request to examine EU palm oil rules
KUALA LUMPUR/GENEVA (May 31): The World Trade Organisation (WTO) agreed to a request from Kuala Lumpur to establish a panel examining a European Union law that restricts the use of palm oil-based biofuels, Malaysia’s government and a Geneva-based trade source said on Monday. Under the EU’...
