The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trend lower next week on profit-taking activities. Interband Group of Companies senior palm oil trader Jim Teh said prices were expected to hover between RM5,500 and RM6,000 per tonne, influenced by a weaker local currency, inflation in the United States, and…
KUALA LUMPUR (June 9): Crude palm oil (CPO) prices are expected to weaken to RM4,000 per tonne by the last quarter of the year (4Q22), driven by an increase of CPO production in Indonesia and dampened demand for vegetable oils, said Godrej International Ltd director and edible oil analyst Dorab Mistry. In a report on…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trade in a cautious tone next week ahead of key crop reports to be released in the same week, a dealer said. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said next week is very important where the Malaysian Palm Oil…
KUALA LUMPUR. State agency the Malaysian Palm Oil Council (MPOC) on Wednesday lowered its production outlook for the world’s second largest producer and pegged prices to remain above 6,000 ringgit ($1,367.37) a tonne this year. MPOC forecast Malaysia’s 2022 production at 18.6 million tonnes, up from 18.1 million tonnes in 2021 as migrant workers are…
Agriculture and Crop Research Organization’s Agroindustry Research Center at the National Research and Innovation Agency (BRIN) created a coating solution to maintain freshness and increase shelf life of fruits by utilizing palm oil derivative products. “This palm oil-based coating solution is safe to consume and is included within the edible coating category,” BRIN’s Agroindustry Research…
PT Astra Agro Lestari Tbk received another award. Thanks to the innovations made, the company was awarded the Indonesia Most Acclaimed Companies Awards 2022. At the event organized by the Warta Ekonomi media, Astra Agro was named the Indonesia Most Acclaimed Company Digital Technology to Develop Business Ecosystem, Agribussiness category. “Congratulations to all companies that…
Jakarta – The State-Owned Enterprises (SOEs) Ministry targets to distribute cooking oil commodities at a price of Rp14,000 per liter to 5,000 locations across Indonesia. “In May 2022, we are targeting to reach 5,000 locations nationally, as a form of synergy among the SOEs Ministry, Trade Ministry, and other relevant ministries as well as cooking…
Jakarta – The South Sumatra provincial government has announced that the quota for bulk cooking oil in the province has been increased from 7,300 tons per month in April 2022 to 14,600 tons per month. The quota has been increased based on the instructions of the central government, head of the South Sumatra Trade Office,…
Jakarta – Even though 2021 was full of challenges, PT Astra Agro Lestari Tbk still showed a positive performance. Amidst of the ongoing threat of the Covid-19 pandemic and the impact of several slowing factors, the company, which is engaged in oil palm plantations, has recorded an increase in the production of fresh fruit bunches…
PETALING JAYA: A sharp price crash for crude palm oil (CPO) is unlikely to happen in the near term due to the current insufficient supply of global vegetable oils and firm international crude oil prices, say analysts. This is despite the price of CPO having fallen from its peak of RM8,077 per tonne to RM6,527…
Malaysia’s palm oil inventory grew 2.8% month-on-month (m-o-m) to 1.56 million tonnes at end-March due to higher output, estimates CGS-CIMB Research. The research house said the likely m-o-m rise in stock level was a divergent compared to historical trends in Malaysia’s March palm oil stock movements. “Our forecast for the March 2022 forecast palm oil…
YOGYAKARTA- PT Astra Agro Lestari Tbk’s communication media, Agrovaria, won the Silver Winner award in the event “The 11th Indonesia Inhouse Magazine Awards (InMA) 2022” for the national private company print media category. The magazine, which has won InMA consecutively since 2014, received another award in the biggest mass media appreciation event organized by the…
PETALING JAYA: Crude palm oil (CPO) prices will likely remain elevated for a while, possibly into the end of the first half of 2022, if not longer, according to Hong Leong Investment Bank (HLIB) Research. WhileHLIB Researcht makes no changes to its CPO price projections for now, given the fluid situation, it believes that the…
KUALA LUMPUR: CGS-CIMB Research expects palm oil stocks to rise by 4.6 per cent month on month (mom) to reach 1.59 million tonnes by end-March 2022, with output and exports rising by 15 per cent and six per cent mom, respectively. The research house predicted that the crude palm oil (CPO) prices to trade at…
Indonesia, the world’s biggest palm oil producer and exporter, will push ahead with its ambitious biodiesel program even as prices of the tropical oil have soared, which could increase the costs of producing biofuel. The B30 program, which stipulates that fossil fuels must be blended with 30% palm oil, is still running as planned, said…
Refiners of edible oils in India, one of the world’s biggest consumers, face the prospect of shuttering factories because the structure of import taxes makes supplies of processed oils from overseas more attractive, according to the Indian Vegetable Oil Producers’ Association. As much as 30% of the country’s refining capacity could shift to Indonesia and Malaysia, the…
JAKARTA – The publicly listed plantation company PT Astra Agro Lestari Tbk (AALI) has planned to reach net zero emission under its long term plan which is in line with the government plan to realize the net zero emission in 2060. Santosa, President Director of Astra Agro Lestari said that internal team of Astra Agro is…
Jakarta – After completing the 2018-2020 Sustainability Action Plan, Astra Agro is one step ahead in continuing to implement the principle of sustainability. This commitment is undertaken through the establishment of the 2021-2025 Sustainability Action Plan. “This advanced phase will be more comprehensive and will be implemented in operations properly,” said Chief Executive Officer of…
MUMBAI, Feb 13 (Reuters) – India has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification, as the world’s biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers. The reduction in the tax, known as the Agriculture…
Astra Agro’s digitalization program which has been started since 2018 continues to be developed. In early 2022, Astra Agro launched internet-based applications. “The digitalization program has now begun to touch smallholders who are the company’s partners,” said Chief Executive Officer (CEO) of Astra Agro, Santosa during the Talk to The CEO event which was held…
