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Tag Archives: Palm oil

India’s summer grains output seen at record 150.50 mln tonnes in 2021/22

NEW DELHI: Indian farmers are expected to harvest a record 150.50 million tonnes of grains from summer-sown crops in the crop year to June 2022, the government said on Tuesday, against 149.56 million tonnes gathered in the previous year.

In 2021/22, the output of summer-sown rice is estimated at a record 107.04 million tonnes, up from 104.41 million tonnes in 2020/21, the Ministry of Agriculture and Farmers' Welfare said in a statement.

Higher rice output will help India, the world's biggest exporter of the grain, boost the staple's shipments.

India looks likely to account for as much as 45% of global rice exports in 2021 as expanded port-handling capacity allows the world's biggest rice grower after China to ship record volumes to buyers across Afr

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CPO futures likely to see technical correction next week

KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to experience a technical correction next week, ahead of the production data release.

Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa said markets will closely monitor the production data from the Malaysian Palm Oil Association (MPOA) and Southern Peninsula Palm Oil Millers' Association (SPPOMA) for the Sept 1-20 period.

"Next week's trading activities will be based on production assessment data by MPOA and SPPOMA with expectation for production to rise at a slower rate from last month,” he told Bernama.

Meanwhile, palm oil trader David Ng forecast CPO futures to trade in range-bound mode as ongoing supply concern in the near ter

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ACCCIM welcomes govt approval to bring in 32,000 foreign workers for plantation sector

KUALA LUMPUR (Bernama) -- The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) has welcomed the government's decision to grant special approval to bring in 32,000 foreign workers to ease the labour shortage in the plantation sector.

Minister of Human Resources Datuk Seri Saravanan Murugan has said that his ministry is drawing up standard operating procedures (SOPs), including identifying a 2,000-person capacity COVID-19 isolation centre near Kuala Lumpur International Airport (KLIA), to facilitate the bringing in of the foreign workers.

ACCCIM said in a statement today that the measure will provide relief to the plantation sector, including the palm oil industry, which had suffered financial and revenue losses as the shortages of wo

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Malaysian palm oil price falls for second day, tracking rival oils

Saturday, 27 August 2016   KUALA LUMPUR Malaysian palm oil futures posted a second straight session of losses on Friday, pulled down by weaker-performing rival oils, and charted a weekly loss following three weeks of gains.     Soybean futures on the Chicago Board of Trade are down on forecasts for above-average crop yields …

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Malaysian palm oil price in line for weekly decline, tracking weaker oils

Friday, 26 August 2016   KUALA LUMPUR: Malaysian palm oil futures recorded their first session of declines in three on Thursday, weighed down by weaker related vegetable oils, despite strong cargo surveyor export data for August.     Benchmark palm oil futures for November on the Bursa Malaysia Derivatives Exchange fell 1.5 percent to …

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Malaysian palm oil price records biggest gains in nearly a year

Tuesday, 16 August 2016   KUALA LUMPUR: Malaysian palm oil futures made their biggest gains in nearly a year, charting a second positive session on Monday evening, tracking firmer competing vegetable oils and supported by strong export data.      Benchmark palm oil futures for October on the Bursa Malaysia Derivatives Exchange surged 3.8 …

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Malaysian palm oil price near 4-month high on stronger soy

Tuesday, 1 August 2017 KUALA LUMPUR: Malaysian palm oil futures hit a near four-month high in early trade on Monday, tracking overnight gains in soyoil on the Chicago Board of Trade and on forecasts of lower-than-expected output increases and end-stocks. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was …

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