KUALA LUMPUR, Jan 16 Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) rebounded from last week’s decline to end marginally higher today, as bargain.
PETALING JAYA: After enjoying the months-long rally that lifted crude palm oil (CPO) prices to a high that was last seen more than a decade ago, planters will need to brace themselves for a number of challenges ahead.
While persistent low palm oil stock levels have been instrumental in pushing CPO prices above the RM4,000-per-tonne range, there are views the commodity may not be able to sustain its price momentum too long.
Analysts are predicting palm oil production to recover strongly in the coming months, and as a result, boost planters’ inventories that would in turn exert pressure on CPO prices.
Palm oil import up, soft oil down marginally in Nov-Jan quarter of 2020-21
February 12, 2021
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CPO import jumped 24% in Q1 of oil year 2020-21 on duty cut from 37.5% to 27.5% with effect from November 27
Import of palm oil jumped by 8 per cent in the first quarter of the oil year 2020-21.
According to data on import of vegetable oils (both edible and non-edible) for January 2021, compiled by Solvent Extractors’ Association (SEA) of India, the import of palm oil (which includes CPO, RBD palmolein, and crude palm kernel oil) increased to 2.17 million tonnes (mt) during the November-January quarter of the oil year 2020-21 against two mt during the corresponding period of the previous oil year, registering a growth of 8.01 per cent.
NEW DELHI, Jan 14 India imported 402,797 tonnes of crude palm oil (CPO) from Malaysia last month about 20 per cent more compared to November 2020 as the import duty reduction boosted Indian purchases. Overall, India’s edible oil imports in December exceeded 1.3 million tonnes, comprising.