News
MPOC Concerned Over Indonesia’s Tax Regime for Palm Oil
KUALA LUMPUR: The Malaysian Palm Oil Council (MPOC) has expressed concern that Indonesia’s duty structure for palm oil could lead to a price undercutting race which would not benefit the industry in both Malaysia and Indonesia. Indonesia imposes a 19.5 per cent export tax for crude palm oil (CPO) in...
Palm Futures Down on Bearish Sentiment
KUALA LUMPUR: Crude palm oil (CPO) futures prices on Bursa Malaysia Derivatives closed lower yesterday on expectations of lower exports for the month, dealers said. Sot month July 2012 declined RM56 to RM2,997, after trading between RM2,980 and RM3,050. August 2012 fell RM56 to RM3,013, September 20...
CPO Futures Dip on Profits Taking Activities
KUALA LUMPUR: Crude palm oil futures prices on Bursa Malaysia Derivatives closed lower yesterday on profit-taking, dealers said. They said the market was also quiet on lack of buying interest from refiners. July 2012 declined RM57 to RM3,053 a tonne, August 2012 slipped by RM57 to RM3,069, September...
CPO Futures Lower on Bearish Data
KUALA LUMPUR: The crude palm oil (CPO) futures contract prices on Bursa Malaysia Derivatives closed lower yesterday on bearish palm oil stocks data, dealers said. At the close, spot month July 2012 rose RM67 to RM3,139. August 2012 fell RM16 to RM3,126, September 2012 decreased RM23 to RM3,130 and O...
Palm Futures Up on Short-covering
KUALA LUMPUR: The crude palm oil (CPO) futures contract prices on Bursa Malaysia Derivatives closed firmer yesterday on short-covering, dealers said. At the close, spot month July 2012 and August 2012 jumped RM32 each to RM3,126 and RM3,142 a ton-ne respectively, September 2012 increased RM23 to RM3...
Feeding India’s Demand
India’s growing consumption of palm oil products translates into higher imports from Malaysia. DEMAND for palm oil products in India the world’s second largest vegetable oil consumer after China is driven by factors such as an expanding middle class, palm oil’s relatively low price...
