NEWS FEED
  • 19 March, 2019
    Be more aggressive over EU phase-out of palm oil
    Putrajaya needs to take a more aggressive approach to tackle the European Union’s (EU) decision to phase out palm oil from transport fuel used in that trading bloc, says the Federal Land Development Authority (Felda). Felda director-general Datuk Dr Othman Omar said this is a purely business strategy for some EU member nations. “In the past they said the cultivation of palm oil here caused deforestation, but we have stopped planting in new areas. Next they said palm oil is not green. I think as far as the lobby is concerned, they look at oil palm as more efficient and more people are attracted to produce more, so they need to kill it before it becomes their biggest competitor.
  • 18 March, 2019
    Crude palm oil prices forecast to be higher this year
    THE oil palm industry has played an important role in the economy. The planted area expanded from 55,000ha in 1960 to 5.849 million hectares last year. In tandem with the area expansion, the production of palm oil also grew from less than 100,000 tonnes in 1960 to 19.516 million tonnes last year. This expansion, especially in the 1960s, was encouraged by the diversification strategy of the government, which recognised palm oil as a complementary crop to rubber.
  • 15 March, 2019
    Malaysian palm oil price drops for 7th session on demand woes, rising supplies
    Malaysian palm oil futures fell for a seventh consecutive session on Thursday to a three-month low, as concerns over slowing demand and rising production dragged down the market. There was further pressure on prices as Europeans reduce consumption amid environmental concerns associated with the tropical product. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange closed down 1.4 percent at 2,062 ringgit ($504.28) a tonne.
  • 14 March, 2019
    Malaysian palm oil price hits 3-month low on India demand concerns
    Malaysian palm oil futures slid for a sixth consecutive session on Wednesday to their lowest in three months on pressure from expectations of lower demand in top importer India and rising domestic production. The benchmark third-month palm oil contract on the Bursa Malaysia Derivatives Exchange finished down 1.3 percent at 2,089 ringgit a tonne. Earlier in the session, the market hit its weakest since mid-December at 2,070 ringgit a tonne.
  • 13 March, 2019
    Malaysian palm oil snaps 1-wk losing streak on crude price gains
    Malaysian palm oil futures snapped a week-long losing streak on Tuesday, gaining slightly in early trade to match rising crude oil prices. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange rose 0.57% to RM2,131 (US$522.30) per tonne at the midday break. Prices of the edible oil had fallen nearly 2% in the past 1 week on weak demand and high stockpiles in the world's second-largest producer.
  • 11 March, 2019
    Malaysian palm oil/Vegoils: Market factors to watch Monday March 11
    Malaysian palm oil futures reversed early gains to close lower on Friday, charting a third straight day of losses on weaker demand outlook. Iraq's state grain board bought 100,000 tonnes of U.S. and Canadian wheat in an international purchasing tender, traders said on Sunday.
  • 8 March, 2019
    Malaysian palm oil price falls 1pct on weaker edible oils, bearish outlook
    Malaysian palm oil futures fell over 1 percent on Thursday, charting a second straight session of declines, on weaker related edible oils and bearish market outlook on palm prices and inventory levels. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was down 1.1 percent at 2,134 ringgit ($522.27) a tonne at the close of trade. Earlier in the session, it fell 1.4 percent to an intraday low of 2,126 ringgit, its lowest since Feb. 28.
  • 7 March, 2019
    Malaysian palm oil yields on alarming downtrend: Mielke
    Malaysian palm oil yields have been on an alarming declining trend for nine years, mainly due to mismanagement which led to lack of replanting, as well as rising labour and fertiliser costs, said an expert. ISTA Mielke GmbH executive director Thomas Mielke said currently, 1.1 million to 1.2 million hectares, or about 20 percent of oil palm estates in Malaysia, are 20 years or older.
  • 7 March, 2019
    Malaysian palm oil eases on bearish price, output outlook
    Malaysian palm oil futures eased on Wednesday evening on bearish price and production forecasts at an industry conference in Kuala Lumpur. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange was down 0.2 percent at 2,157 ringgit ($527.77) a tonne at the end of trading. "Most of the speakers don't seem too bullish," said a Kuala Lumpur-based trader, referring to the industry conference.