MEDIA & RESOURCE CENTER

Ministry to announce B10 biodiesel programme by year-end

20-Jul-2018
The Primary Industries Ministry will announce implementation of the B10 (10% palm methyl ester with 90% petroleum diesel) programme in the transport sector by year-end, subject to approval by the Cabinet. Deputy Minister Shamsul Iskandar Md Akin said the ministry was in consultations with the relevant stakeholders, including the Malaysian Automotive Association, Japan Automobile Manufacturers Association and Malaysian Automotive Institute, on issues of manufacturer’s warranty on vehicles.

Malaysian palm oil price drops from 1-wk high on sluggish demand

20-Jul-2018
Malaysian palm oil futures edged down after hitting a one week-high in early trade on Thursday, undergoing a technical correction after strong gains in the previous session and on sluggish demand. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange rose to its highest in a week at 2,220 ringgit ($547.20) a tonne in the morning before falling 0.8 percent to 2,193 ringgit at the end of the trading day. Trading volume stood at 47,045 lots of 25 tonnes each at the close of trade.

Malaysian palm oil price jumps 2 percent to one-week high on weaker ringgit

19-Jul-2018
Malaysian palm oil futures jumped more than 2 percent to a one-week high on Wednesday evening, as the ringgit weakened and related edible oils recovered. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was up 1.8 percent at 2,211 ringgit ($544.98) a tonne at the close, after rising to its highest since July 11 at 2,218 ringgit. Trading volume stood at 63,352 lots of 25 tonnes each at the end of the trading day. "Palm prices are up on the ringgit's depreciation," said one futures trader in Kuala Lumpur, adding that the market also rose on a technical rebound. "It had been below 2,200 ringgit for some time," he said.

Palm flat; trade range-bound on overnight soyoil losses, weaker ringgit

18-Jul-2018
Malaysian palm oil futures were flat at midday break on Tuesday, with trade largely range-bound in the first half of the session, as a weaker ringgit offset overnight losses in soyoil, said traders. A weaker ringgit, palm's currency of trade, typically supports the tropical oil by making it cheaper for holders of foreign currencies. The ringgit weakened 0.1% against the dollar around Tuesday noon, and was last at 4.0430. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was at 2,173 ringgit (US$537.47) a tonne at midday break, near a three-year low hit on Friday.

Malaysian palm oil price edges down on overnight soyoil losses

18-Jul-2018
Malaysian palm oil futures edged down slightly at the close of trade on Tuesday, tracking overnight losses in soyoil, but remained largely range-bound as a weaker ringgit offset losses, traders said. A weaker ringgit, palm's currency of trade, typically supports the tropical oil by making it cheaper for holders of other currencies. The ringgit weakened 0.1 percent against the dollar on Tuesday and was last at 4.0445. The benchmark palm oil contract for October delivery on the Bursa Malaysia Derivatives Exchange was down 0.1 percent at 2,171 ringgit ($536.78) a tonne at the end of the trading day, near a three-year low hit on Friday.
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