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Palm Oil Association

Indonesia to change palm oil export levy, cut ceiling rate
Markets

Indonesia to change palm oil export levy, cut ceiling rate

  • Indonesian authorities have been weighing up for months whether to cut the crude palm oil export levy, which has been at its highest level for five months in a row, hurting demand.
  • The tariff for export levy begins when prices are at $750 per tonne, with a $20 increase for every $50 rise in CPO.
Published 21 Jun, 2021 04:43pm
Palm falls more than 4pc tracking weak US soyoil
Markets

Palm falls more than 4pc tracking weak US soyoil

  • The benchmark palm oil contract for September delivery on the Bursa Malaysia Derivatives Exchange closed 4.1% lower, to 3,398 ringgit a tonne.
  • Soyoil contract on the CBOT fell 2.4%. Soybean oil prices on the Dalian dropped 1.9%, while its palm contract fell 1.6%.
Published 16 Jun, 2021 05:26pm
Palm closes little changed, concerns over coronavirus weigh
Markets

Palm closes little changed, concerns over coronavirus weigh

  • The benchmark palm oil contract on the Bursa Malaysia Derivatives Exchange last traded down 2 ringgit, or 0.05%, to 4,040 ringgit ($981.77) a tonne.
  • Top importer India on Wednesday reported 382,315 new coronavirus cases, health ministry data showed.
Updated 05 May, 2021 05:34pm
Palm ends lower on higher Indonesian output forecast for 2021
Markets

Palm ends lower on higher Indonesian output forecast for 2021

  • The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange ended down 19 ringgit, or 0.47%, at 4,042 ringgit ($981.07) a tonne, after rising 5% on Monday.
  • Indonesia's crude palm oil output is estimated at 48.4 million tonnes while crude palm kernel oil (CPKO) is expected to be at 7.29 million tonnes this year, IOPRI said.
Published 04 May, 2021 04:55pm
Palm oil supply and demand prospects halt two-week price decline
Markets

Palm oil supply and demand prospects halt two-week price decline

  • The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange slipped by 2 ringgit, or 0.05%, to 3,739 ringgit ($903.58) a tonne after rising as much as 1% earlier in the day. For the week, it was up 1.3%.
  • "Overall, the market is anticipating April exports to be a tad better versus March. With tight end-stocks and better than expected exports, prices are expected to remain firmer," he added.
Published 02 Apr, 2021 07:10pm