• 17 May, 2019
    Malaysian palm oil price jumps more than 2pct on higher demand, stronger soyoil
    Malaysian palm oil futures rose to a more than two-week high on Thursday evening on better demand for the edible oil, moving up for the fourth straight day as they tracked gains in soyoil on the U.S. Chicago Board of Trade. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was last up 2.5% at 2,096 ringgit ($503.48) a tonne.
  • 16 May, 2019
    Teresa Kok: Europe offers better opportunities for palm oil market
    In the face of the impending passing of the Delegated Act to phase out palm oil by the European Union, Primary Industries Minister Teresa Kok is positive that all is not lost as her European mission on palm oil has opened more doors for negotiations. The minister, with her entourage of senior officials from the ministry, Malaysian Palm Oil Board (MPOB), Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Certification Council (MPOCC) were on a 10-day trip between May 3 and May 13 to London, Brussels, Berlin and Rome, where they met senior officials in their mission to explain Malaysia’s stand on the palm oil situation.
  • 16 May, 2019
    Palm oil price at week high on stronger soyoil, weaker ringgit
    Malaysian palm oil futures climbed to a one-week top in early trade on Wednesday, in line to chart a third consecutive day of gain, as it tracked an increase in U.S. soyoil on the Chicago Board of Trade (CBOT) and a weaker ringgit.
  • 15 May, 2019
    Malaysia keeps June crude palm oil export duty at 0pct
    Malaysia kept its export duty on crude palm oil for June unchanged 0%, according to a circular on the Malaysian Palm Oil Board's website on Tuesday, citing the national customs department. The duty has been at 0% since September.
  • 15 May, 2019
    Malaysian palm oil price climbs more than 1pct as ringgit weakens
    Malaysian palm oil futures rose more than 1% for a second day of gains on Tuesday, supported by a weaker ringgit and expectated higher demand in May. The ringgit, palm's currency of trade, weakened by 0.2% against the dollar on Tuesday evening. A weaker ringgit usually supports palm oil by making it cheaper for foreign buyers. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 1.5% at 2,014 ringgit ($483.09) a tonne at the close.
  • 14 May, 2019
    M’sia to continue working with Indonesia to defend palm oil
    Malaysia will continue to work with Indonesia to defend palm oil which is under sabotage by lobbyists in Europe, says Interna­tional Trade and Industry Minister Datuk Darell Leiking. He said the cooperation began with both parties issuing statements and taking joint action to handle the ban by the European community. “Only France is blocking the use of palm oil, even then not completely while the Netherlands is one of the biggest importers among the European nations.
  • 14 May, 2019
    Palm oil price at 6-month low
    The falling price of crude palm oil (CPO), which has dropped below RM2,000 a tonne, is hurting planters. At RM1,985 a tonne yesterday, the vegetable oil is trading near its lowest level in six months. Maybank Research, in a report, expects Malaysian-based planters to see continued earnings pressure, mainly on still weak spot CPO average selling prices (-19% y-o-y). The research house is expecting integrated players to still fare relatively better as they would benefit from low raw material costs.
  • 13 May, 2019
    Sabah planters happy with no property assessment tax on palm oil mills
    Sabah planters are "delighted" that a proposed property assessment tax (PAT) on palm oil mills and its labour quarters will not be implemented. This, according to the Malaysian Estate Owners Association, was announced by Sabah Chief Minister Datuk Seri Mohd Shafie Apdal at a dialogue with business entrepreneurs in Sandakan. At the dialogue, MEOA's council member Joseph Tek had highlighted that one of the new tax that was about to be rolled out in Sabah by a number of local district councils is the PAT on the palm oil mills and its labour quarters.
  • 13 May, 2019
    Further drop in CPO inventory to support prices over next two months
    Falling palm oil inventories should help to support crude palm oil prices, which has been hovering near its lowest levels this year. In a note, PublicInvest research said it sees further weakness in inventory level in the next two months as production is likely to fall from the long holiday break.