The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Thursday, driven by positive export sentiments that lifted market dynamics, said palm oil trader David Ng. He said the favourable export conditions, marked by strong demand and optimistic trade forecasts, continued to bolster investor confidence and supported an upward trajectory in…
Palm oil swung between gains and losses as investors weighed a jump in exports from top growers and higher production in a Malaysian region. Shipments from the world’s largest grower Indonesia soared 59% from a month earlier in June, according to Intertek Testing Services. A report by cargo surveyor AmSpec Agri showed exports from Malaysia,…
Malaysian palm oil futures closed with their best week in five, even as prices fell on Friday as traders chose to book profits ahead of a long weekend. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange was down 27 ringgit, or 0.66%, to 4,040 ringgit ($858.30) a metric ton…
Professor of the Bogor Agricultural University (IPB) Erliza Hambali said Indonesia must maximize the added value of downstream oil palm in order to boost national economic growth. “As the largest palm oil producer in the world, it is appropriate that the added value is in Indonesia, not in other countries,” said Prof. Erliza Hambali in…
The Capacity Building Training for Sustainable Commodity Management Based on Smallholder Agriculture for Like-Minded Countries (LMCs) has been successfully conducted in Bogor and Riau (22/6 – 2/7). This training is a collaboration between the Ministry of Foreign Affairs of the Republic of Indonesia, Institut Pertanian Bogor (IPB), and the Lembaga Dana Kerja Sama Pembangunan Indonesia…
India’s palm oil imports rose by 3% in June from the previous month to reach the highest level in six months on robust demand from refiners for upcoming festivals and as the oil traded at a discount to rival oils, five dealers told Reuters. Higher palm oil purchases by India, the world’s biggest importer of…
Malaysian palm oil futures extended gains for the fourth straight session on Monday, underpinned by worries over subdued production and tracking rival edible oils higher. The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange gained 71 ringgit, or 1.81%, to 3,987 ringgit ($845.96) per metric ton by the midday break.…
The Indonesian Palm Oil Entrepreneurs Association (Gapki) revealed that the prospect of palm oil is still good in the midst of the 2024 Presidential Election (US). “The prospects are still good, we see that the United States continues to increase demand for palm oil, finally it has even approached 2 million tons,” said Gapki General…
The reference price (HR) for the palm oil commodity (CPO) for the July 2024 period was 800.75 US dollars per MT. This value increased by 21.93 US dollars or 2.82 percent from the June 2024 period which was recorded at 778.82 US dollars per MT. Director General of Foreign Trade of the Ministry of Trade…
India has recently announced a measure to address food inflation by permitting limited imports of essential commodities under the tariff-rate quota (TRQ) framework. This move, aimed at easing the burden on consumers, includes corn, crude sunflower oil, refined rapeseed oil, and milk powder. Under TRQ, importers benefit from reduced or zero tariffs, strategically implemented to…
CPO price has risen by 1.5% since previous Monthly Commodity Outlook publication on 24 May says OCBC which reached MYR3,930/mt as of 21 June closing. This brings the quarter-to- date average price to MYR4,040/mt, representing a ~1.0% increase compared to the 1Q24 price average of MYR3,998/mt. OCBC said while it continues to hold the view…
Thirty-six sustainable agriculture experts from 17 like- minded countries gathered in Bogor to share best practices in Capacity Enhancement Training for Sustainable Oil Palm Management based on Smallholder Agriculture (24/6). The training, held from June 22 to July 2, 2024, is a collaboration between the Ministry of Foreign Affairs, Bogor Agricultural Institute (IPB), and the…
A healthy diet must include enough intake of fats. A fat-poor diet can lead to health issues. Nutritionists also advocate that the percentage of energy from fats should not exceed 10 per cent. Too much is also unhealthy. The global demand for edible fats has been growing around 3 per cent yearly, driven by both…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) closed higher on Wednesday, tracking the stronger soybean oil and crude oil prices, said palm oil trader David Ng. “The CPO prices are supported at RM3,890 a tonne and resistance is at RM4,050 a tonne,” he told Bernama. Meanwhile, Mumbai-based Sunvin Group commodity…
The plantation sector will likely see the impact of the hot and dry weather spell more towards the later part of 2024, but total production of the year will likely be higher year-on-year (y-o-y), helped greatly by the availability of adequate supply of labour to the sector. Datuk Dr Ahmad Parveez Ghulam Kadir, director-general of…
Pasangkayu – PT Astra Agro Lestari donates thousands of trees to protect the environment in Pasangkayu. PT Astra Agro Lestari (AAL) Tbk, a leading agribusiness company in Indonesia, celebrates World Environment Day 2024 by donating thousands of trees to the community in Pasangkayu, West Sulawesi. This initiative demonstrates the Company’s commitment to environmental sustainability through…
Babulu – World Environment Day is celebrated every year on June 5. World Environment Day is an important moment to remind us of our collective responsibility to protect and preserve the environment for the welfare of current and future generations. Celebrates World Environment Day, Astra Agro Lestari’s subsidiary, PT Sukses Tani Nusasubur (STN), in Labangka…
The Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, has announced the Ministry’s readiness to partner with the Republic of Indonesia and other stakeholders to revive the country’s oil palm subsector to enhance food and nutrition security, job creation, and export opportunities, among others. The Minister stated this during a meeting…
India’s palm oil imports rose sharply in May, jumping 12.4 percent from April to reach 769,000 metric tons, the highest level in four months, according to estimates from five industry dealers. The surge in purchases by the world’s biggest importer of vegetable oils was driven by a recent correction in palm oil prices, making it…
In today’s world, many of us tend to look for products that help to make us look good and stay healthy, and one ingredient stands out for its remarkable benefits: sustainable palm oil. Derived from the fruit of oil palm trees, this versatile oil is not only a staple in many kitchens but also a…
