News
Palm oil punches through RM3,500 to highest in eight years
NEW DELHI: Palm oil burst through RM3,500 a tonne to the strongest level in more than eight years on optimism that rising exports from Malaysia will deplete the country’s stockpiles and that stronger prices for rival soybean oil will increase the appeal of palm oil. “It’s a rebound after the lacklus...
Oil palm smallholders urged to adopt tech to increase yield — plantation think tank
KUALA LUMPUR (Dec 15): The oil palm industry, especially the half million smallholders, need to do more for their oil palm cultivation business despite working with lower plantation acreage to earn a better living, and this can be done through mechanisation and adoption of technology, according to a...
Palm oil’s stunning rally likely dampened demand from top buyer
(Dec 14): Palm oil imports by India, the world’s biggest buyer, probably slumped to a five-month low in November as rising prices curbed demand. Inbound shipments likely fell almost 20% from a month earlier to 622,000 tons, according to GG Patel, managing partner of GGN Research. That compares with ...
MPOB: Govt may earn over RM500m in palm oil windfall profit levy
RAUB (Dec 12): The government is expected to earn palm oil windfall profit levy of more than RM500 million in 2021 if the price of crude palm oil (CPO) remains stable at RM3,000 per tonne until next year. Malaysian Palm Oil Board (MPOB) chairman Datuk Ahmad Jazlan Yaakub said this is an important co...
Indonesian palm oil export levy positive for country’s downstream players, Malaysian planters —CGS-CIMB
KUALA LUMPUR (Dec 7): The Indonesian government’s decision to revise its export levy structure will hurt upstream palm oil producers in the country, but will be a positive move for Indonesian downstream players and Malaysian planters, opined CGS-CIMB Research. CGS-CIMB’s Ivy Ng and Nagulan Ravi note...
Palm oil prices to keep rising in first half of 2021 on tight supply — CPOPC
KUALA LUMPUR (Dec 1): Palm oil prices will continue to rise in the first half of 2021 as global supply squeezed by a La Nina weather pattern is set to remain tight, the Council of Palm Oil Producing Countries (CPOPC) said on Tuesday. Disruptions from persistent heavy rainfall in Southeast Asia means...
