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Business

Palm oil extends losses on EU rule, weaker soyoil

NEW DELHI: Crude palm oil (CPO) prices dropped for a second day as the market was pressured by lower soybean oil prices as well as the European Union’s publication of limits on the use of the tropical oil in biofuels that will start next month.

Business

Malaysian palm stocks seen near 3mil tonnes until year-end

KUALA LUMPUR: Malaysian palm stocks are expected to hover around 3 million tonnes for the rest of the year, as improved yields from good weather and new plantings come into fruition this year and exports remain flat, say industry players, whose estimates range between 2.7-3.4 million tonnes.

Business

Malaysian palm oil price erases gains to trade little changed

KUALA LUMPUR: Malaysian palm oil futures rose in early trade on Monday on cargo surveyor data showing stronger March exports, before paring gains to close the morning session little changed amid concerns about higher production.

Markets

Global 2019 palm oil demand set for first contraction in two decades

KUALA LUMPUR: World palm oil demand may suffer its first contraction in two decades during the 2019/20 crop year due to rising domestic oilseed supplies in top buyer India and slowing demand in Europe and China, industry participants told Reuters.

Plantations

India cuts tax on palm oil imports; Malaysia to gain most

MUMBAI: India has cut import taxes on crude and refined palm oil from Southeast Asian (ASEAN) countries after a request from suppliers, a government notification said.

Plantations

India's June palm oil imports from Malaysia and Indonesia plunge to 4-1/2 yr low

MUMBAI: India's palm oil imports in June plunged 41 percent from a year earlier to their lowest in nearly 4-1/2 years, a leading trade body said on Monday, as a higher import tax on the tropical oil made it more expensive