NEWS FEED
  • 18 May, 2018
    Palm rises on bargain-hunting, weaker ringgit
    Malaysian palm oil futures recovered from a one-week low on Thursday and ended trading higher on the back of bargain-buying and a weaker ringgit, its currency of trade. Gains in the Chicago Board of Trade soyoil also lent support to the market, said traders. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up 0.8% at RM2,432 (US$613.06) a tonne at the close of trade. Earlier in the session, it hit the lowest since May 8 at RM2,399.
  • 17 May, 2018
    Palm oil falls on weaker related oils, slow demand
    Malaysian palm oil futures edged down in early trade on Wednesday, in line to snap two previous days of gains, tracking weaker related oils and on slowing export demand. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was down 0.6% at 2,422 ringgit (US$611.15) a tonne at midday break, its sharpest fall in nearly two weeks. Palm had earlier jumped to a one-month high on Monday, tracking a weaker ringgit, following the election defeat of a coalition that ruled the country for six decades.
  • 17 May, 2018
    Ukraine's parliament outlaws use of palm oil for food production
    Ukraine's Verkhovna Rada on May 15 passed bill No. 3871 at first reading to amend some Ukrainian laws to outlaw the use of palm oil for food production.
  • 16 May, 2018
    Palm oil extends gains on weaker ringgit
    Malaysian palm oil futures rose on Tuesday evening for a second straight session of gains, supported by a weaker ringgit and slight strength in CBOT soyoil futures. Weakness in the ringgit typically boosts demand by making the tropical oil cheaper for holders of foreign currencies. The ringgit weakened by 0.15% to 3.9540 per dollar at the end of the trading day. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was up 0.7% at RM2,432 (US$615.07) a tonne at the close of trade.
  • 15 May, 2018
    Palm jumps to highest in more than four months
    Malaysian palm oil futures rose 3% on Monday, their biggest intraday gain in more than four months, buoyed by early losses in the ringgit and lower than forecast end-stocks data from an industry regulator. A weaker ringgit, palm's currency of trade, typically lends support to palm oil prices, because it makes the tropical oil cheaper for holders of foreign currencies. The ringgit weakened nearly 1% against the dollar to a four-month low in early trade on Monday but recovered to close flat at 3.9480 on Monday evening.
  • 15 May, 2018
    India palm oil imports seen falling as higher duties curb demand
    India’s palm oil imports probably dropped in April as higher taxes on shipments curbed demand in the world’s biggest buyer. Purchases fell about 1.7% to 740,000 metric tons from a year earlier, according to the median of four estimates in a Bloomberg survey of processors, brokers and analysts. Total vegetable oil imports decreased 9.7% to 1.21 million tons, the survey showed. The Solvent Extractors’ Association of India is expected to release its monthly trade numbers this week. Lower imports by India may drag down palm oil prices, which have fallen in five out of six months through April. Benchmark futures in Malaysia have lost 4.9% so far this year on expectations of higher production and after India increased import taxes on the vegetable oil in March.
  • 15 May, 2018
    Malaysian palm oil inventories continue to fall
    Malaysian palm oil inventories fell for the fourth consecutive month in April as both export and production slowed slightly. The inventories fell 6.4% on month to 2.17 million metric tonnes while CPO prices in April averaged RM2,410 per metric tonne. PublicInvest Reseasearch has maintained a neutral outlook on the sector with a full-year average CPO price forecast of RM2,500 per metric tonne.
  • 14 May, 2018
    Malaysia palm oil futures jump to one-month peak in 1st day of post-election trade
    Malaysian benchmark crude palm oil futures surged to their highest in a month at the opening of trade on Monday, the first session since the stunning election defeat of a coalition that ruled the country for six decades. Veteran politician Mahathir Mohamad came out of retirement to lead the opposition to victory over a ruling party he had once led, defeating prime minister Najib Razak, a former protege he had accused of corruption.
  • 8 May, 2018
    Market Forum 15 May 2018 by MPOC