Indonesian, Japanese economic ministers discuss trade cooperation

Recent NewsBy admin September 4, 2022 Leave a comment

Jakarta (ANTARA) – Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto received Japanese Minister of Energy, Trade and Industry Nishimura Yasutoshi and they discussed trade and investment cooperation, Indo-Pacific Economic Framework (IPEF), and G20 Summit. Through the Indonesia-Japan Economic Partnership Agreement (IJ-EPA), the two countries have made many achievements in their cooperation and renewed cooperation…

Palm Extends Gains

Recent NewsBy admin August 23, 2022 Leave a comment

Malaysia’s benchmark palm oil futures extended gains to a second session on Monday, helped by stronger vegetable oils, a weaker ringgit, and supportive export data. The benchmark palm oil contract for November delivery on the Bursa Malaysia Derivatives Exchange rose 1.71% to 4,218 ringgit ($941.52) a tonne by the end of the afternoon session. It gained…

CPO futures likely to see profit-taking activities next week

Recent NewsBy admin August 20, 2022 Leave a comment

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to trend downward next week on profit-taking activities. Interband Group of Companies senior palm oil trader Jim Teh said the price movement next week is expected to confine between RM3,200 and RM3,700 per tonne. “The lower forecast is mainly due to July’s…

CPO futures close slightly higher on Aug 17

Recent NewsBy admin August 18, 2022 Leave a comment

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives closed marginally higher on Wednesday (Aug 17), in line with gains in soybean oil prices, a dealer said. Palm oil trader David Ng said higher soybean oil futures in the Chicago Board of Trade (CBOT), coupled with improving crude oil prices, supported local CPO futures.…

Malaysia maintains September crude palm oil export duty at 8 pct

Recent NewsBy admin August 17, 2022 Leave a comment

Malaysia, the world’s second-largest palm oil producer, has maintained its September crude palm oil (CPO) export duty at 8 percent, the Malaysian Palm Oil Board circular showed on Wednesday. However, it lowered the CPO reference price in September to 3,907.51 ringgit (about 875 U.S. dollars) from 5,257.91 ringgit (about 1,177 dollars) per tonne in August. Based…

Edible Oil Imports Increased 28% in July as Traders Purchased More RBD Palmolein & Soya oil

Recent NewsBy admin August 17, 2022 Leave a comment

RBD palmolein imports increased to 11.44 lt in the first nine months of the oil year 2021-22 (November to October) from 43,271 tonnes the previous year. He stated that the import of RBD palmolein during the first nine months of the oil year 2021-22 is primarily due to Indonesia’s high CPO export levy and lower…

CPO futures seen trending higher next week on expectation of stronger exports

Recent NewsBy admin August 13, 2022 Leave a comment

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trend higher next week on the expectation of higher palm oil export estimates by cargo surveyors, said a dealer. “We expect next week’s market to trade with an upward bias with the commodity’s price expected to trade between RM4,000 and RM4,600…

CPO futures likely to see profit-taking activities next week

Recent NewsBy admin August 6, 2022 Leave a comment

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trend lower next week on profit-taking activities. Interband Group of Companies senior palm oil trader Jim Teh said stocks are expected to remain high in Malaysia due to Indonesia’s lower Indonesian export prices. “As such, the price movement next week is…

Malaysia palm oil stocks seen at eight-month high

Recent NewsBy admin August 5, 2022 Leave a comment

Malaysia’s palm oil inventories at end-July likely jumped to the highest in eight months due to improving production and soaring imports, a media survey showed yesterday. Stockpiles in the world’s second-largest producer expanded 8.3 per cent from June to 1.79 million tonnes, according to the median estimate of 11 traders and analysts polled by media. Production…

CPO output seen to grow by 2.8% in July compared to June

Recent NewsBy admin August 4, 2022 Leave a comment

Malaysia’s crude palm oil (CPO) output is expected to grow by 2.8 per cent month-on-month (m-o-m) and 4.3 per cent year-on-year (y-o-y) to 1.59 million tonnes in July 2022, said CGS-CIMB Securities Sdn Bhd. “The m-o-m increase in CPO output was driven by seasonal factors,” it said in a research note today. As such, Malaysia’s palm oil…

Malaysia says ready to help India meet palm oil demand

Recent NewsBy admin August 4, 2022 Leave a comment

Malaysia said on Thursday it was ready to help India meet its palm oil demand in view of potentially erratic supply from top supplier Indonesia. India is expected to see a surge in demand to around 800,000 tonnes per month for the next six months, Malaysia’s Plantation Industries and Commodities Minister Zuraida Kamaruddin said in a statement,…

CPO futures ends lower amid stiff competition from Indonesia

Recent NewsBy admin August 2, 2022 Leave a comment

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower today, weighed by strong competition from lower Indonesian export prices, a dealer said. Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said the republic’s higher export volume also led towards the sell-off in Malaysian CPO futures. “A sharp fall in…

Crude palm oil futures projected to extend winning streak this week

Recent NewsBy admin August 1, 2022 Leave a comment

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is projected to extend its uptrend this week after a three-day winning streak on optimism over the outlook for oil and vegetable oils. Palm oil trader David Ng expects futures prices to move between MYR3,700 and MYR4,500 per tonne next week. Market sentiment was…

Indonesia runs road test for biodiesel with 40% palm oil

Recent NewsBy admin July 27, 2022 Leave a comment

JAKARTA, July 27 (Reuters) – Indonesia on Wednesday launched road tests for two types of biodiesel containing 40% palm oil, hoping to conclude by the end of the year whether they are viable for public use, the energy ministry said. The government currently mandates that all diesel sold in the country must contain 30% palm oil – the highest…

China Agrees to Increase CPO Imports from Indonesia

Recent NewsBy admin July 27, 2022 Leave a comment

Jakarta. China has unveiled a commitment to increase its crude palm oil import from Indonesia by 1 million metric tons, or about a fifth of its annual imports, in a move that should help pare down the Southeast Asian producer’s surplus inventories and prop up the commodity prices among local farmers. China Prime Minister Li…

Optimism about Indonesia’s palm oil exports

Recent NewsBy admin July 19, 2022 Leave a comment

CGS-CIMB Research is optimistic about Indonesia’s latest measure on the short-term palm oil export levy waiver as it encourages an increase in exports and reduces the country’s high stockpiles. Indonesia recently announced it would waive a palm oil export levy from July 15 to Aug 31 in an attempt to boost shipments and reduce stockpiles. According to Indonesia’s finance…

Indonesia’s Exports Up 40.6% to US$26bn in June, BPS Says

Recent NewsBy admin July 15, 2022 Leave a comment

The Indonesian central statistics agency, BPS, announced that the export value reached US$26.09 billion in June. The figure reflects a 21.30 percent monthly increase and 40.68 percent year-on-year hike. “The non-oil and gas sector accounted for 94.13 percent of total exports in June 2022,” BPS chief Margo Yuwono in a virtual press conference on Friday, July…

India’s palm oil imports rise marginally to 590,000 tonnes in June: SEA

Recent NewsBy admin July 14, 2022 Leave a comment

India’s palm oil imports rose marginally to 5,90,921 tonnes in June this year, but the shipment of RBD palmolein oil showed a sharp increase, industry body Solvent Extractors Association (SEA) said. India, the world’s leading vegetable oil buyer, imported 5,87,467 tonnes of palm oils in June 2021. The association also demanded the government to increase…

Malaysia’s palm oil stockpile rose nearly 9.0pct in June, highest since November 2021

Recent NewsBy admin July 13, 2022 Leave a comment

KUALA LUMPUR: Malaysia’s palm-oil inventory level increased 8.8 per cent month-on-month to 1.66 million tonnes in June , the highest since November 2021 as total crude palm oil (CPO) production outweighed consumption mainly due to weaker exports. Affin Hwang Capital said in the near term, global crop production, global demand for edible oils and further changes to…

CPO prices to remain elevated for rest of 2022

Recent NewsBy admin July 13, 2022 Leave a comment

KUALA LUMPUR: Crude palm oil (CPO) prices are expected to remain elevated in the second half of this year (H2 2022) on supply concerns and improved demand outlook, according to MIDF Research. The research house said prices would be supported by the higher edible oil prices on supply concerns amid the prolonged Russia-Ukraine war, which…

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