JAKARTA, May 21 (Bloomberg): Palm oil has lost a major pillar of support after top producer Indonesia lifted a ban on exports, paving the way for prices to slump further as supply builds and demand languishes. Futures were already lower this week on expectations Indonesia’s ban would be short-lived, and late Thursday President Joko Widodo said that exports can resume from May … [Read more...] about Palm oil’s slump set to deepen after Indonesia lifts export ban
Supply demand curve oil
Higher palm oil price boost for Sime Darby
PETALING JAYA: Higher crude palm oil (CPO) and palm kernel (PK) prices helped lift Sime Darby Plantation Bhd ’s (SDP) net profit in the first quarter ended March 31, 2022 (1Q22), to RM718mil, a 27.76% increase over RM562mil in 1Q21. The plantations group said revenue rose 19% year-on-year (y-o-y) to RM4.38bil as the higher prices offset the negative impact resulting from … [Read more...] about Higher palm oil price boost for Sime Darby
Malaysia sees sustained competitiveness even as Indonesia resumes palm oil exports
JAKARTA/KUALA LUMPUR, May 22 (Reuters): Indonesia's resumption of palm oil exports will not blunt Malaysia's competitiveness in exporting the edible oil, the Malaysian commodities minister said on Sunday, pointing to the rival's loss of sales in India. Minister Zuraida Kamaruddin urged "all Malaysian oil palm growers - both plantation firms and smallholders alike - not to be … [Read more...] about Malaysia sees sustained competitiveness even as Indonesia resumes palm oil exports
Govt to send chicken stocks to states that have supply issues
HULU TERENGGANU: The government through the Domestic Trade and Consumer Affairs Ministry will send chicken stocks to states that have supply problems. Its Deputy Minister Datuk Rosol Wahid said this was a short-term solution following the closure of a livestock farm that was hit by production problems. "The ministry will identify areas that are severely affected and will … [Read more...] about Govt to send chicken stocks to states that have supply issues
Sime Darby Plantation’s 1Q net profit lifted to RM718mil on higher CPO, PK prices
KUALA LUMPUR: Higher crude palm oil (CPO) and palm kernel (PK) prices helped lift Sime Darby Plantation Bhd 's net profit in the first quarter ended March 31, 2022, to RM718mil, a 27.76% increase over RM562mil in 1Q21. The plantations group said revenue rose 19% year-on-year (y-o-y) to RM4.38bil as the higher prices offset the negative impact resulting from a prolonged … [Read more...] about Sime Darby Plantation’s 1Q net profit lifted to RM718mil on higher CPO, PK prices