News
High prices push CPO traded on Bursa to 405m tonnes in 2022, five times world output
KUALA LUMPUR (March 8): The amount of crude palm oil (CPO) traded via futures contracts (FCPO) on Bursa Malaysia Derivatives (BMD) spiked in 2022 due to exceptionally strong prices of the tropical oil recorded last year. According to BMD’s director Mohd Saleem Kader Bekas, 405 million tonnes of CPO,...
Analyst: EU deforestation law unlikely to impact demand for Malaysian, other SE Asian palm oil
KUALA LUMPUR, March 7 — The European Union’s deforestation law is unlikely to have a meaningful impact on demand for Southeast Asian palm oil as the surplus is shrinking amid rising consumption from developing countries, a leading industry analyst said on Monday.-Advertisement- The EU in December ag...
Palm oil demand to rise in 2023 to 20 million tonnes
KUALA LUMPUR: Demand for Malaysia’s palm oil is forecast to notch higher to 19.85 million tonnes this year from 19.01 million tonnes in 2022 as exports are set to grow to 16.44 million tonnes from 15.73 million tonnes previously. The remaining demand is expected to come from domestic (2.98 million t...
Malaysia invites Thailand to become CPOPC member
KUALA LUMPUR: Malaysia has invited Thailand to join the Council of Palm Oil Producing Countries (CPOPC) as a member to create a stronger voice to address discriminatory protectionist measures against palm oil and rubber producers at Asean level. Deputy Prime Minister Datuk Seri Fadillah Yusof, who i...
Malaysia keeps March crude palm oil export duty at 8%
KUALA LUMPUR: Malaysia has maintained its March export tax for crude palm oil at 8% and lowered the reference price, a circular on the Malaysian Palm Oil Board website showed on Wednesday. The world’s second largest palm exporter calculated a reference price of RM3,710.35 per tonne for March. ...
CPO futures end higher on continuation of bullish trend
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) ended higher today as a bullish recovery from last week continued, said a dealer. Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said worries over Indonesia’s palm oil export restric...
