News
India Expected to Import Record Amount of Vegetable Oil
MUMBAI: India, the biggest vegetable oil buyer after China, will import record volumes this year even as the highest ever soyAbean and canola stockpiles fuel speculation that overseas purchases may slow, Godrej International Ltd said. Purchases may total 9 million metric tonnes in the year to Octobe...
Palm Oil Prices Can Touch RM3,000 This Year
PUCHONG, April 8 (Bernama) — Palm oil prices can possibly touch RM2,800 or RM3,000 per tonne this year due to strong demand and the El-Nino weather phenomenon, IOI Corporation Bhd Executive Chairman Tan Sri Lee Shin Cheng says. He said prices had been falling in the last month because of the s...
Palm Futures Climb on Short-Covering
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Palm Futures Dragged Down by Profit Taking
Profit taking activities dragged crude palm oil (CPO) futures to end lower yesterday on Bursa Malaysia Derivatives. The strengthening ringgit, which made the commodity unattractive for both hedge funds and importers, coupled with market expectation of less demand from China, India, and Europe weighe...
Surging Ringgit Nips CPO Futures Gains
Malaysian palm oil futures ended higher yesterday on the back of firmer soyoil markets although the surging ringgit currency nipped gains. Palm oil, which lost 4 per cent in the first quarter of 2010, is making little headway as the ringgit reached multi-month highs at the start of the second quarte...
Palm Oil Sector Needs More Money for R&D
Malaysia’s palm oil industry, which accounts for 70 per cent of the country’s agriculture sector, wants more money for research, better infrastructure and incentives for biofuel ventures under Budget 2010. Malaysian Palm Oil Board chairman Datuk Sabri Ahmad said the industry needs more f...
