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 AfrRead More »
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 terRead More »
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 woRead More »
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 …Read More »
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 …Read More »
Wednesday, 24 August 2016 PETALING JAYA: Plantation firm IOI Corp Bhd fell into the red during the final quarter of its 2016 financial year (Q4 FY16) with a net loss of RM59mil arising from lower operating profits and foreign exchange translation losses. The company posted a revenue of RM2.82bil. …Read More »
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 …Read More »
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 …Read More »
Tuesday, 25 July 2017 KUALA LUMPUR: Malaysian palm oil futures posted their worst session in a week on Monday, racking weaker performances in rival oils. Traders were bearish because of forecasts of rising output, but they are uncertain how high production will be in the coming months. The benchmark palm oil contract …Read More »
Saturday, 22 July 2017 KUALA LUMPUR: Malaysian palm oil futures fell in late trade on Friday, easing from a more than one-week high reached early in the session, as the market tracked declines in soyoil on the Chicago Board of Trade. Expectations of rising production as the month progresses also added to traders’ …Read More »