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palm oil stocks

Palm ends three-day rally

Palm ends three-day rally

KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday, ending a three-session rally, pressured by demand ...
Published 26 May, 2022 05:26am
Indonesia to change palm oil export levy, cut ceiling rate
Markets

Indonesia to change palm oil export levy, cut ceiling rate

  • Indonesian authorities have been weighing up for months whether to cut the crude palm oil export levy, which has been at its highest level for five months in a row, hurting demand.
  • The tariff for export levy begins when prices are at $750 per tonne, with a $20 increase for every $50 rise in CPO.
Published 21 Jun, 2021 04:43pm
Malaysia's KLK offers $372mn for majority stake in IJM Plantations
Markets

Malaysia's KLK offers $372mn for majority stake in IJM Plantations

  • IJM Corp said it has received a letter from KLK, one of the largest palm oil planters in the country, offering to acquire its 56.2% equity holding at 3.10 ringgit per share.
  • The offer, at a 26% premium to IJM Plantations' last traded share price of 2.46 ringgit, values the palm oil producer at 2.73 billion ringgit.
Updated 09 Jun, 2021 06:19pm
Palm oil rises over 2pc as Chicago soybean prices rally
Markets

Palm oil rises over 2pc as Chicago soybean prices rally

  • The benchmark palm oil contract for August delivery on the Bursa Malaysia Derivatives Exchange was up at 4,015 ringgit ($971.68) a tonne when the market closed.
  • The contract gained 0.6% this week after plunging 11.43% in the previous week, its biggest weekly drop in one year.
Published 28 May, 2021 06:17pm
Palm ends lower on higher Indonesian output forecast for 2021
Markets

Palm ends lower on higher Indonesian output forecast for 2021

  • The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange ended down 19 ringgit, or 0.47%, at 4,042 ringgit ($981.07) a tonne, after rising 5% on Monday.
  • Indonesia's crude palm oil output is estimated at 48.4 million tonnes while crude palm kernel oil (CPKO) is expected to be at 7.29 million tonnes this year, IOPRI said.
Published 04 May, 2021 04:55pm
Palm falls over 3pc on profit booking ahead of holiday, cheaper rivals weigh
Markets

Palm falls over 3pc on profit booking ahead of holiday, cheaper rivals weigh

  • The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange fell to 3,942 ringgit ($961.46) per tonne, after closing 4.7% higher on Tuesday, its biggest jump in 11 months.
  • On the Chicago Board of Trade, the soybean oil contract fell 3.6%, while the Dalian Commodity Exchange's soyoil contract declined 1%.
Published 28 Apr, 2021 04:58pm
Palm oil jumps 2pc
Markets

Palm oil jumps 2pc

KUALA LUMPUR: Malaysian palm oil futures climbed 2% on Tuesday, snapping a three-day decline, as stronger rival...
Published 14 Apr, 2021 03:21am
Palm drops to five-week low on weak rival oils, sluggish demand
Markets

Palm drops to five-week low on weak rival oils, sluggish demand

  • The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange dropped 4.6% to 3,574 ringgit ($861.41) a tonne at closing time, the lowest closing level since Feb. 22.
  • Palm oil tracked rival soyoil down as soy was pressured by an upbeat planting outlook in the U.S, a palm oil trader in Kuala Lumpur said.
Published 30 Mar, 2021 05:59pm
Palm oil neutral in 3,221-3,300 ringgit range
Markets

Palm oil neutral in 3,221-3,300 ringgit range

  • This bounce is expected to extend towards the peak of a wave 4 around 3,348 ringgit. On the daily chart, the contract stabilized around a support at 3,148 ringgit, the 61.8% retracement on the uptrend from 2,691 ringgit to 3,888 ringgit.
Published 26 Jan, 2021 10:23am