NEWS FEED
  • 13 July, 2018
    Malaysian palm oil price hits lowest in almost 3 years
    Malaysian palm oil futures dropped to their lowest in nearly three years on Thursday, tracking overnight declines in related edible oils, before trimming some losses on the back of a weaker ringgit. A weaker ringgit, palm's currency of trade, typically lends support to the edible oil by making it cheaper for foreign buyers. The ringgit weakened by 0.1 percent against the dollar to 4.0395 on Thursday evening.
  • 13 July, 2018
    Palm hits lowest in almost three years on weaker Dalian oils
    Malaysian palm oil futures dropped to their lowest in nearly three years on Thursday, tracking overnight declines in related edible oils, before trimming some losses on the back of a weaker ringgit. A weaker ringgit, palm's currency of trade, typically lends support to the edible oil by making it cheaper for foreign buyers. The ringgit weakened by 0.1% against the dollar to 4.0395 on Thursday evening. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 0.8% at RM2,186 (US$541.16) a tonne at the close of trade for a third straight session of losses.
  • 12 July, 2018
    Malaysian palm oil price drops over 2% on US-China trade conflict
    Malaysian palm oil futures fell over 2 percent to a two-year low on Wednesday evening, tracking weakness in related oils on China's Dalian Commodity Exchange and as an escalating U.S.-China trade conflict weighed on the market. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 2.4 percent at 2,204 ringgit ($545.95) a tonne at the close of trade, after hitting its lowest since July 14, 2016 at 2,202 ringgit.
  • 12 July, 2018
    Analysts see continued uptrend in Malaysia’s palm oil stockpile
    Malaysian palm oil stockpiles for the month of July are seen to continue to rise, after a higher-than-expected stockpile as at end-June and surveyor statistics showing weakened exports in the first ten days of this month. According to CGS-CIMB research estimates, palm oil stocks could rise 11% month-on-month to 2.42 tonnes at end-July, while production could grow 9% on month as harvesting activities pick up following the return of workers from the festive celebration.
  • 12 July, 2018
    Malaysia lowers August crude palm oil export tax to 4.5 percent
    Malaysia lowered its export tax on crude palm oil for August to 4.5%, the Malaysian Palm Oil Board said on Wednesday, citing the national customs department. The export tax in July was 5%. Malaysia is the world's second-largest producer of palm oil.
  • 12 July, 2018
    Palm oil inventory expects to rise five pct to 2.30m tonnes in July
    Palm oil inventory stock should rise five per cent to 2.30 million tonnes with an anticipation of a supply growth of 1.69 million tonnes this month. Kenanga Research said production should also rebound 23 per cent to 1.64 million tonnes, followed by the recovery in export volume of 18 per cent to 1.33 million tonnes in July. As of end-June, Malaysia palm oil inventory was 2.19 million tonnes with 13 per cent declined in mom in export volume, attributed by weak export to China. “We expect the trend reversal on palm oil stocks to contribute to softer crude palm oil (CPO) prices in the second-half (2H) 2018. With risks (soft soybean price, higher palm production, higher Indonesian supply) outweighing opportunities (supportive crude oil price, better Indian and biodiesel demand),” it said in a research report.
  • 11 July, 2018
    FGV hopes PM’s China trip will boost palm oil sector
    FGV Holdings Bhd is optimistic that Prime Minister Tun Dr Mahathir Mohamad’s official visit to China in August will benefit the palm oil sector, said president and group chief executive officer Datuk Zakaria Arshad. Speaking to reporters at the FGV open house yesterday, he said the visit was also expected to improve bilateral trade relations between China and Malaysia.
  • 11 July, 2018
    France: Palm oil sustainability still a concern for consumers
    Palm oil will not be discriminated as a biofuel in the European Union, but the oil’s sustainability remains a key concern for its consumers and its industries. Earlier this year in January, the European Parliament (EP) voted to ban the use of palm oil for the production of biofuels in the European Union by 2021. Since that decision, the France Ambassador in Malaysia Frédéric Laplanche guided that the government has pledged to pursue a renegotiation in the EP on the matter as they wished to ensure that the European legislation would not be discriminatory against palm oil compared to other biofuels.
  • 11 July, 2018
    Teresa Kok’s palm oil challenges
    With numerous challenges dominating Malaysia’s palm oil industry, all eyes are on Teresa Kok as she officially begins as the minister of primary industries. Against this backdrop, The Edge Financial Daily spoke to industry players on their hopes and concerns for the sector, one of the most significant contributors to the nation’s gross domestic product.