NEWS FEED
  • 23 October, 2018
    Malaysian palm oil price snaps earlier losses on US soyoil gains, weaker ringgit
    Malaysian palm oil futures edged up on Monday, snapping two previous sessions of declines, supported by gains in U.S. soyoil and a weaker ringgit, palm's trading currency. A weaker ringgit tends to support palm oil by making it cheaper for holders of foreign currencies. The ringgit was last down 0.1 percent against the dollar, and is at its weakest levels since November 2017. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.6 percent at 2,237 ringgit ($537.87) a tonne at the end of the trading day.
  • 23 October, 2018
    Palm oil may gain further to 2,262 ringgit
    Palm oil may gain further to 2,262 ringgit per tonne, as it has found a support at 2,219 ringgit. The support is provided by the 50 percent projection level of an upward wave C from the Sept. 20 low of 2,137 ringgit. It coincides with the neckline support of an inverted head-and-shoulders.
  • 23 October, 2018
    Malaysian palm oil/Vegoils: Market factors to watch Tuesday Oct 23
    Malaysian palm oil futures edged up on Monday, snapping two previous sessions of declines, supported by gains in U.S. soyoil and a weaker ringgit, palm's trading currency. U.S. corn futures inched higher on Monday, snapping a four-session slide, as forecasts for rains to re-emerge in the Midwest next week raised concerns about harvest delays and crop quality, analysts said.
  • 23 October, 2018
    India's groundnut output seen down 29pct, possible rise in palm oil imports
    India's groundnut output from summer-sown crop is likely to fall 29.2 percent from a year ago to 3.74 million tonnes as scanty rainfall hit yields in the top producing western state of Gujarat, a leading trade body said on Monday. The drop in output could force the world's biggest edible oil importer to raise overseas purchases in the 2018/19 marketing year starting from Nov. 1.
  • 22 October, 2018
    Palm oil may test resistance at 2,238 ringgit
    Palm oil may test a resistance at 2,238 ringgit per tonne, a break above which could lead to a gain to 2,262 ringgit. The contract is expected to stabilise around a support at 2,219 ringgit, which is provided by the 50 percent projection level of an upward wave C from the Sept. 20 low of 2,137 ringgit.
  • 19 October, 2018
    Malaysian palm oil price falls tracking weakness in related oils
    Malaysian palm oil futures fell on Thursday, snapping two days of gains, as it tracked weaker crude oil prices and a drop in U.S. soyoil in Chicago. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed down 1 percent at 2,239 ringgit ($538.87) a tonne, its sharpest decline in a week. It fell as much as 1.6 percent during the day to 2,224 ringgit. Trading volumes totalled 54,283 lots of 25 tonnes each. "Palm is down mirroring weakness in competing vegetable oils," said a Kuala Lumpur-based trader, referring to soyoil on the Chicago Board of Trade and related edible oils on China's Dalian Commodity Exchange.
  • 19 October, 2018
    Malaysia, EU to sign PCA in January 2019
    Malaysia and the European Union (EU) plan to sign a partnership cooperation agreement (PCA) in January 2019, Deputy Prime Minister Datuk Seri Dr Wan Azizah Wan Ismail said. Malaysia will be looking beyond bilateral trade and investment once the PCA is signed with the EU, she told Bernama and RTM after meeting Federica Maria Mogherini, High Representative of the EU for Foreign Affairs and Security Policy on Thursday. A PCA is a comprehensive agreement on bilateral and multilateral cooperation comprising politics, economics, trade, investment, justice, culture, education, science and technology, healthcare, agriculture, tourism, energy, traffic, and environment.
  • 18 October, 2018
    EU palm oil expert panel to visit M’sia end of the month
    The European Commission's (EC) palm oil expert panel will make its first visit to Malaysia at the end of this month to address concerns over the sustainability of the palm oil industry. Primary Industries Minister Teresa Kok said she hoped the panel members would recognise Malaysia's efforts towards achieving the United Nations Sustainable Development Goals during their visit.
  • 18 October, 2018
    Palm rises on lean output expectations, firm soyoil futures
    Malaysian palm oil futures were poised for a second day of gains on Wednesday, buoyed by firm soyoil on the Chicago Board of Trade and on expectations of lean production growth in October. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.5% at 2,254 ringgit (US$542.87) a tonne at midday break, close to a one-month high hit in its previous trading session at 2,257 ringgit. Trading volumes stood at 17,369 lots of 25 tonnes each at noon.