Category Archives: News

Malaysia’s palm oil export reverse course to post a small rise, thanks to booming export to the African continent

Malaysia’s palm oil export rose by 2.41% to 847,890 tons in the first 20 days of the month compared to the corresponding period in the prior month. More than double the rise in shipment to the African continent, an 18% increase to Asia Oceania, followed by a 38% rise to China helped to offset the

Australia’s Australia’s Bureau of Meteorology issues El-Niño declaration

Australia’s Bureau of Meteorology (BOM) has issued an El-Niño declaration in its latest Climate Driver Update on Tuesday, with its ENSO Outlook shifting to ‘El-Niño ’ from ‘El-Niño  Alert’ previously. The update echoes what various weather agencies such as the US Climate Prediction Centre and the Japan Meteorological Agency have earlier declared with BOM stating

Malaysia lower October CPO reference price and retains 8% export tax

Malaysia kept its CPO export tax unchanged at 8% for October while lowering its CPO reference price to RM3710.50/mt (US$790.50/mt) from the previous RM3755.13/mt in September, the Malaysian Palm Oil Board said in a circular today. The change in reference price lowers the payable export duty for CPO to RM296.84/mt (US$63.24/mt) from September’s RM300.41/mt. Last

Indonesia’s August palm oil exports slip 2.24% from July: cargo surveyor

  Indonesia’s palm oil exports in August fell by 2.24% from July to 2.67 million mt, estimates from cargo surveyor Intertek Testing Services (ITS) showed Monday, slipping after registering monthly increases for two successive months. The level was also 34% lower than the level seen a year ago, with August 2022’s export estimates significantly larger…

Malaysia CPKO: August surplus stocks ease. Local and international prices remain flat

Local prices stayed largely unchanged from the prior week after offers were made between RM244-246/picul. Average weekly price ended at RM0.40 lower to settle at RM244.80/picul. Meanwhile, August CPKO stocks soared to 5 5-month high of 217,042 tons or up 6.20% from July after the crush rate rose by 11.83% and exports declined by…