Despite the recent resurgence of palm oil prices above RM5,000 per ton, which has inspired some investment banks to turn bullish on the outlook for plantation stocks, some brokers are still cautious on the outlook for palm oil, saying that the price of palm oil is likely to fall significantly by the end of this […]
Indonesia’s Agriculture Ministry has set a goal of making the island nation the world’s largest producer of palm oil by 2025. Indonesia’s Deputy Minister of Agriculture Sudarjono said Indonesia aims to price the commodity on the world market as soon as possible. In order to achieve this goal, he called on farmers and businessmen to […]
Malaysia, the world’s second largest exporter of crude palm oil, posted its highest oil price since March 2022 on 5 November. The price soared to $1,146 per metric tonne. This represents an increase of 44 per cent year-to-date and 32 per cent year-on-year.
Malaysian palm oil futures closed up on Monday, following rival vegetable oils, while the market awaits Malaysian Palm Oil Board (MPOB) data and export figures. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 23 ringgit, or 0.47%, to 4,891 ringgit ($1,119.22) a metric ton on the closing.
Strong demand, coupled with tight supply, drove crude palm oil prices higher for the third consecutive day, with prices rising to their highest in more than 2 years. On the first trading day of November, January 2025 index futures on the Bursa Malaysia Derivatives Exchange (BMD) rose RM169 to RM4,865 (1,111.24USD) per metric tonne as […]
Malaysian palm oil futures rose to their highest level in more than two years on Wednesday, fuelled by an expected drop in production. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed 100 ringgit higher at 4,486 ringgit a tonne.