The plan to double palm oil production is still environmentally, technically and commercially feasible because there are still large areas outside the natural forests that are fit for oil palm estate expansion Among all the perennial crops grown in Indonesia, oil palm plays the most vital role in the country’s economy in terms of income…
Pasangkayu Regency in West Sulawesi has experienced rapid economic development in recent years, largely due to its thriving palm oil industry. A palm tree monument in front of the regent’s office symbolizes the crucial role palm oil plantations have played in enhancing the welfare and economic development of Pasangkayu’s more than 200,000 residents. Once a…
Analysts expect the crude palm oil (CPO) stockpile to increase in the coming months, potentially exerting downward pressure on prices. In their research notes on Monday, analysts from Maybank Investment Bank Bhd (Maybank IB), Hong Leong Investment Bank Bhd (HLIB) and Public Investment Bank Bhd forecast CPO inventories to continue rising, thus they maintained their…
PT Astra Agro Lestari (AAL), a company engaged in the oil palm plantation industry and has a number of subsidiaries in various regions, promoted Hermanto Rudi as Comunity Development Area Manager (CDAM) Borneo 3 in East Kutai Regency, East Kalimantan. Hermanto Rudi has an inspiring background, from being a casual daily laborer to becoming a…
Palm oil plantation company PT Astra Agro Lestari Tbk (AALI) consistently implements the palm oil replanting program (PSR). AALI said that the average replanting realization has reached 4,000 to 5,000 hectares (ha) every year since the program was released in 2016. “We consistently replant every year in the range of 4,000-5,000 hectares per year,” said Vice President…
Malaysian palm oil is expected to trade between 3,700- 4,300 Malaysian ringgit ($780-$906.4) per metric ton from now until June, as tight supplies are seen offsetting weak demand, leading industry analyst Dorab Mistry said on Wednesday. On Wednesday, the benchmark FCPOc3 was trading at around 3,900 ringgit per ton. “May will be the tightest month…
Higher CPO prices in 2024 will mean that the purer planters would be looked upon more positively than the integrated players. RHB Bank Singapore analysts Hoe Lee Leng and Syahril Hanafiah are maintaining “neutral” on the plantation sector following Australian Bureau of Meteorology’s confirmation that El Nino is underway. In their Oct 5 report, the…
Malaysian palm oil futures rose for a second session to close at a more-than-one-week high on Tuesday, tracking sustained gains in soyoil on poor weather in Brazil and Russia, while key palm producer Indonesia’s adverse weather conditions also supported palm prices. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange…
Pelalawan – Cooperation between companies and communities is very important, especially in the oil palm plantation business. PT Sari Lembah Subur (SLS) is committed to establishing partnerships with oil palm farming communities. This was revealed by Lasturi, Partnership Support Operational in charge of PT Sari Lembah Subur (SLS), located in Genduang Village, Pelalawan, Riau, the…
Indonesia has set its crude palm oil (CPO) reference price for May at $877.28 per metric ton, a Trade Ministry official said on Tuesday, up from $857.62 in April. The new reference price would put the export tax for CPO at $52 per ton and levy at $90, unchanged from this month’s rates. Source: marketscreener.com…
The national palm oil industry has contributed to poverty alleviation and job creation for more than 16 million workers and is the largest non-oil and gas export contribution by contributing 15.6 percent of total non-oil and gas exports in 2020. Palm oil has become the backbone of the national economy and become the belle of…
The Ministry of Energy and Mineral Resources (ESDM) estimates that a minimum stock of crude palm oil (CPO) of around 17.57 million kiloliters will be needed to support the Biodiesel B40 program. This estimation is based on the assumption of diesel fuel needs for the year 2024, which is approximately at 38.04 million kiloliters. Meanwhile,…
PALM oil exports from Indonesia, the world’s biggest exporter of the commodity, are expected to recover in April, after shipments in March and February fell below the monthly average over the past year, the trade ministry said on Monday (Apr 22). February exports of palm products were 1.3 million tonnes, while those for the Mar…
Coordinating Minister for Economic Affairs, Airlangga Hartarto, said that Indonesia is dominating global palm oil exports, accounting for 54 percent of world palm oil supplies. In 2023, Indonesia’s total palm oil production stood at 56 million tons with export realization reaching 26.33 million tons, Airlangga explained. “Indonesia is the world’s largest palm oil producer with…
Palm oil snapped a two-day drop on optimism that Malaysian exports will be robust this month, and on concerns that potential Indonesian policy changes could limit supplies from the biggest shipper. The gains this morning are mainly due to the strength in Malaysia’s export performance this month, according to David Ng, a senior trader at…
Indonesia explores agricultural and aquaculture cooperation with Vietnam to solidify their positions in Southeast Asia, according to Minister of Cooperatives and Small and Medium Enterprises (SMEs), Teten Masduki. During a meeting with the chairperson of the People’s Committee of Vietnam’s Dak Lak province, Hyim Kdoh, on Friday, Masduki said that the two countries have an…
Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives turned higher on Wednesday, rebounding from Tuesday’s losses, and tracking a bullish recovery in the Chinese vegetable oil futures, said a dealer. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said despite the quiet buying momentum from other markets apart from India, the origin markets…
Against the backdrop of attacks by Ukrainian UAVs on Russian refineries and forecasts of a reduction in oil supplies in 2024, Brent crude oil futures last week rose by 4% to $85.4/barrel (+3.2% for the month), which supported the ‘yuchers for palm oil in Malaysia. May palm oil futures on the Malaysian Bursa exchange rose…
Jakarta – President Joko Widodo aka Jokowi visited North Sumatra with First Lady Iriana on Thursday, March 14, 2024. During the visit, Jokowi is scheduled to inaugurate a red cooking oil pilot factory. According to a written statement from the Presidential Secretariat, Jokowi and Iriana arrived at Kualanamu International Airport, North Sumatra at around 09:15…
Malaysian palm oil futures rose on Wednesday to their highest closing in over a year, as strengthin rival edible oilsand firmer crude oil prices underpinned the market. The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange closed up 67ringgit, or 1.62%, to 4,196 ringgit ($895.43), its highest closing since…
