MEDIA & RESOURCE CENTER

Malaysian palm oil price jumps more than 2pct on higher demand, stronger soyoil

17-May-2019
Malaysian palm oil futures rose to a more than two-week high on Thursday evening on better demand for the edible oil, moving up for the fourth straight day as they tracked gains in soyoil on the U.S. Chicago Board of Trade. The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was last up 2.5% at 2,096 ringgit ($503.48) a tonne.

Teresa Kok: Europe offers better opportunities for palm oil market

16-May-2019
In the face of the impending passing of the Delegated Act to phase out palm oil by the European Union, Primary Industries Minister Teresa Kok is positive that all is not lost as her European mission on palm oil has opened more doors for negotiations. The minister, with her entourage of senior officials from the ministry, Malaysian Palm Oil Board (MPOB), Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Certification Council (MPOCC) were on a 10-day trip between May 3 and May 13 to London, Brussels, Berlin and Rome, where they met senior officials in their mission to explain Malaysia’s stand on the palm oil situation.

Palm oil price at week high on stronger soyoil, weaker ringgit

16-May-2019
Malaysian palm oil futures climbed to a one-week top in early trade on Wednesday, in line to chart a third consecutive day of gain, as it tracked an increase in U.S. soyoil on the Chicago Board of Trade (CBOT) and a weaker ringgit.

Malaysia keeps June crude palm oil export duty at 0pct

15-May-2019
Malaysia kept its export duty on crude palm oil for June unchanged 0%, according to a circular on the Malaysian Palm Oil Board's website on Tuesday, citing the national customs department. The duty has been at 0% since September.

Malaysian palm oil price climbs more than 1pct as ringgit weakens

15-May-2019
Malaysian palm oil futures rose more than 1% for a second day of gains on Tuesday, supported by a weaker ringgit and expectated higher demand in May. The ringgit, palm's currency of trade, weakened by 0.2% against the dollar on Tuesday evening. A weaker ringgit usually supports palm oil by making it cheaper for foreign buyers. The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange gained 1.5% at 2,014 ringgit ($483.09) a tonne at the close.
 
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