SANDAKAN: Malaysia has pledged to halt new oil palm plantations in forested areas to support sustainability and maintain its current forest cover of 54%, plantations and commodities minister Johari Ghani said today. He said that palm fruits harvested from deforested areas will be barred from being processed at palm oil mills. Factories accepting such fruits will…
KUALA LUMPUR: Malaysian palm oil futures rose on Wednesday after closing at a seven-month low in the previous session, buoyed by a weaker ringgit but losses in rival Dalian contracts capped the gains. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange gained 19 ringgit, or 0.51%, to 3,724 ringgit…
Month Production 2023 Production 2024 Chg(%) End Stocks 2023 End Stocks 2024 Chg (%) Exports 2023 Exports 2024 Chg (%) Jan 1380410 1402355 1.59 2268198 2020191 -10.93 1136995 1349479 18.69 Feb 1253573 1259572 0.48 2119854 1920113 -9.42 1127970 1024539 -9.17 Mar 1288354 1392471 8.08 1674022 1712554 2.30 1487836 1327112 -10.80 Apr 1461029 1501905 2.80 1497535…
ITS: 1,240,593 vs 944,009 (up 296,584 or higher by 31.42%)AMSPEC: 1,173,224 vs 891,570 (up 281,654 or higher by 31.59%)
INDONESIA is planning for the widespread use of the palm-oil based B40 biodiesel in 2025, replacing the current B35 blending, the energy ministry said. The world’s biggest palm oil maker currently has a mandatory 35 per cent blend of palm oil-based fuel in biodiesel and is seeking to ramp up the new blend of 40…
When the price of an asset goes down from MYR3926 to MYR3918 while both volume and open interest also decrease, it typically indicates the following: 1. Decreasing Market Participation: Lower volume during a price decline suggests that there are fewer traders and investors participating in the market. This can imply that the selling pressure is…
Palm oil price of goes down significantly to current support level while both volume and open interest increase, it generally indicates a few key points: 1. Increased Selling Pressure: The drop in price at the support level with high volume suggests that there is significant selling pressure. Many market participants are selling the asset, causing…
Current Market Dynamics The palm oil market is currently exhibiting signs of bearish sentiment. Recent trading activity has shown a noticeable decline in palm oil prices from MYR3988 to MYR3967, coupled with a significant increase in both trading volume and open interest. Key Indicators Conclusion Given the current indicators, the outlook for palm oil prices…
Overview:Recent market activities have shown a concurrent increase in price, volume, and open interest, signaling a strong bullish trend across the observed financial markets. This report provides an analysis of these changes and their implications on market sentiment and future trends. Details of Market Movements: Market Implications: Conclusion:The current market conditions, marked by increases in…
