News
La Nina rain set to lift palm oil output in top grower to record
(Oct 14): Indonesia, supplier of more than half the world’s palm oil, could see production climb to a record next year after torrential La Nina rains drench plantations and boost yields, a group of growers and refiners said. Output may increase by 4% to almost 49 million tons from 47 million tons th...
Bountiful harvest for oil palm planters
PETALING JAYA: Planters are expected to post stronger third-quarter results for the financial year 2020 (FY20), thanks to the rally in crude palm oil (CPO) prices and higher production, say analysts. According to CGS-CIMB Research, the anticipated higher third quarter (Q3) net profit by planters wou...
China to buy 1.7 million tonnes of palm oil from Malaysia until 2023, says Hishammuddin
KUALA LUMPUR (Oct 13): China today expressed its commitment to purchase 1.7 million tonnes of palm oil from Malaysia until 2023, said Datuk Seri Hishammuddin Tun Hussein. The Foreign Minister announced this in a joint news conference following bilateral meetings with his visiting Chinese counte...
MPOA: Palm oil industry’s reputation a top concern for Malaysia
KUALA LUMPUR (Oct 11): While the export of Malaysian palm oil to the United States is of an insignificant amount, the effect from the US’ move to ban FGV Holdings Bhd’s palm oil and palm oil products on the industry’s reputation is of concern to Malaysia. Malaysian Palm Oil Associa...
Palm oil prices to rally in first half of 2021, say top analysts
KUALA LUMPUR/MUMBAI (Oct 8): Palm oil prices are likely to jump in the first half of 2021, three leading industry analysts said in a webinar on Thursday, as La Nina weather pattern is set to hit edible oil supplies amid lower soybean crushing in Argentina and rising sunflower oil prices. Heavy rainf...
Malaysia’s palm oil stocks seen to dip 2% in September as higher exports overtook rising supply
KUALA LUMPUR (Oct 6): Malaysia’s palm oil stocks are likely to have dipped 2% month-on-month (m-o-m) to 1.67 million tonnes at end-September 2020 as higher exports more than offset rising supply, said CGS-CIMB Research in a note today. CGS-CIMB analyst Ivy Ng said a survey by CGS-CIMB Futures r...
