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…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher today amid continuous bullish sentiment. Palm oil trader David Ng said palm oil prices got its support from the low stock levels of the commodity in the country coupled with stronger soybean oil prices at the Chicago Board of Trade (CBOT) and…
Palm oil prices could be lifted by the expansion of pure biodiesel (B100) capacity in Southeast Asia, as well as crop failure in other parts of the world, said veteran trader Dorab Mistry. “If there are new biofuel announcements [in Southeast Asia], [prices for] palm will go higher because palm is the oil of first…
Indonesia, the world’s largest producer of crude palm oil (CPO), is stepping up efforts to become a key supplier of sustainable aviation fuel (SAF), leveraging its abundant natural resources. This initiative aligns with global moves towards greener aviation, with countries like Singapore mandating the use of SAF by 2026. Amidst this backdrop, Indonesia has embarked…
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade higher next week due to ongoing positive sentiment, a dealer said. Palm oil trader David Ng said positive sentiment in the palm oil market is expected to continue to build up in the upcoming week, given the anticipation of lower…
The National Food Agency (Bapanas) stated that Indonesian snacks and palm oil industries participated in the 2024 Gulfood Exhibition at the Dubai World Trade Center, the United Arab Emirates (UAE). The agency’s Director of Food Distribution and Reserves Rachmi Widiriani noted in a written statement on Thursday that the 2024 Gulfood Exhibition is one of…
Malaysian palm oil futures traded near MYR 3,900 per tonne after falling below MYR 3,820 earlier in the week, supported by strength in rival oils in Dalian and Chicago soyoil, and sustained gains in crude oil prices. Meanwhile, expectations of robust demand grew ahead of the Ramadan fasting month. At the same time, traders were…
