Edition:
India

Emily Chow

Palm retreats on weaker overnight soyoil

11:35am IST

KUALA LUMPUR Malaysian palm oil futures fell on Friday after three straight sessions of gains, tracking weakness in overnight U.S. soyoil prices.

INSIGHT-Fearing tobacco's fate, palm oil industry fights back

21 Aug 2019

KUALA LUMPUR, Aug 21 On the morning of Feb. 26, executives from a Washington consultancy presented a strategy paper to some of the most powerful officials in the Malaysian palm oil industry.

Fearing tobacco's fate, palm oil industry fights back

21 Aug 2019

KUALA LUMPUR On the morning of Feb. 26, executives from a Washington consultancy presented a strategy paper to some of the most powerful officials in the Malaysian palm oil industry.

Palm falls on ringgit strength, overnight soyoil losses

21 Aug 2019

KUALA LUMPUR Malaysian palm oil futures edged down at the midday break on Wednesday, as a stronger ringgit and overnight losses in U.S. soyoil prices weighed.

Palm snaps losing streak on stronger exports, soyoil

20 Aug 2019

KUALA LUMPUR Malaysian palm oil futures rose nearly 2% in the second half of Tuesday's trading session, supported by gains in soyoil on the U.S. Chicago Board of Trade and stronger export data from cargo surveyors.

Indonesian planters see drought hitting palm oil output

20 Aug 2019

KUALA LUMPUR/JAKARTA Leading palm oil players in Indonesia see production growth being hit in the short to medium term, as the world's top grower of the edible oil faces drought across major planting regions that is expected to delay fruit ripening and lower output.

Palm extends rally on stronger export data outlook

14 Aug 2019

KUALA LUMPUR Malaysian palm oil futures extended their rally late on Wednesday, hitting their highest in four and a half months, supported by expectations of stronger export data.

Malaysia second-quarter GDP growth pace seen picking up, bucking regional trend: Reuters poll

14 Aug 2019

KUALA LUMPUR Malaysia's economic growth pace rose in the second quarter, helped by slightly stronger exports and manufacturing, a Reuters poll showed.

PREVIEW-Malaysia July palm stocks to see first gain in 5-months -Reuters survey

05 Aug 2019

* July stocks seen edging up 1.8% to 2.47 mln T -survey * Output seen up 11.4% at 1.69 mln T -survey * Exports forecast to rise 3.8% to 1.44 mln T -survey * Malaysian Palm Oil Board data due Aug. 13 By Emily Chow KUALA LUMPUR, Aug 5 Malaysian palm oil stockpiles likely rose for the first time in five months, edging up to a three-month high, as production gains outpaced a rise in exports, a Reuters survey showed. Inventories in Malaysia, the world's second-largest palm oil producer, are forecast to have gained 1.8% from the previous month to 2.47 million tonnes at end-July, according to a median estimate of seven planters, traders and analysts polled by Reuters. Stockpiles had earlier declined for four consecutive months, easing from the 3 million tonne mark at the start of the year. Increased inventory risks weighing on benchmark palm oil prices, which fell to a near four-year low in mid-July at 1,916 Malaysian ringgit ($459.09) per tonne. Prices have since rebounded about 9% and were last at 2,085 ringgit. Rising stockpiles were aided by higher output. The survey estimated production would rise 11.4% to 1.69 million tonnes, its highest level since January and the biggest monthly gain in 10 months. "July output rose due to seasonal factors and more working days," said Ivy Ng, regional head of plantations research at CIMB Investment Bank, in a report. The output gains were also likely aided by higher yields in Sarawak's oil palm estates, and July's rise in inventory indicated that "palm oil stocks may have bottomed in June," Ng said. Palm oil exports were seen rising 3.8% from June to 1.44 million tonnes in July, supported by demand from key markets India, the European Union and China. "India is restocking ahead of festivals, while the EU is buying ahead of possible import duties over palm," said Anilkumar Bagani, research head of Sunvin Group, a Mumbai-based vegetable oil broker, referring to possible duties on EU imports of Indonesian biodiesel. "China is also buying as its oilseeds crush has slowed down due to the African swine fever, and they have to buy other vegetable oils to fulfil demand," he added. China, the world's largest pork producer, typically imports soybeans to crush for meal, leaving soyoil as a byproduct for cooking and other food purposes, but a severe disease outbreak has curbed demand for meal. Official palm oil data will be published by the Malaysian Palm Oil Board ‪after 0430 GMT on Aug. 13. The median results from the Reuters survey put Malaysia's consumption in July at 292,615 tonnes. Breakdown of July estimates (in tonnes): Range Median Production 1,625,000 - 1,791,522 1,692,000 Exports 1,420,000 - 1,480,000 1,435,000 Imports 60,000 - 100,000 80,000 Closing Stocks 2,430,000 - 2,613,979 2,468,000 * Official stocks of 2,423,615 tonnes in June plus the above estimated output and imports yield a total July supply of 4,195,615 tonnes. Based on the median of exports and closing stocks estimate, Malaysia's domestic consumption in July is estimated to be 292,615 tonnes. ($1 = 4.1735 ringgit) (Reporting by Emily Chow; editing by Richard Pullin)

Palm on track for second session of losses on weaker overnight soyoil

02 Aug 2019

KUALA LUMPUR Malaysian palm oil futures extended losses at the midday break on Friday, weighed by weakness in overnight U.S. soyoil on the Chicago Board of Trade (CBOT) which came under pressure after U.S. President Donald Trump's fresh tariff threat against China.

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