Articles By Min Jie Yaw

Indonesia’s palm oil exports fell by 10% to 2.01 million tonnes in November after hitting a four-month high of 2.23 million tonnes in October, with buying subsiding after the Diwali holiday, according to cargo surveyor Intertek Testing Services (ITS).

Freight rates for vessels carrying palm oil cargoes within Asia were largely unchanged in the week to Wednesday December 18, on unchanged fundamentals, with enquiries remaining limited and tonnage spaces remaining abundant, sources told Fastmarkets.

Malaysia raised its crude palm oil (CPO) reference price for December to 5,001.72 ringgit ($1,141) per tonne, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Tuesday December 17.

Freight rates for vessels carrying palm oil cargoes within Asia were flat in the week to Wednesday December 4, on unchanged fundamentals with demand from charterers still soft but shipowners still unwilling to lower rates.

Freight rates for vessels carrying palm oil cargoes within Asia held firm in the week to Wednesday November 27, after charterer sentiment remained lackluster amidst tightened tonnage caused by weather woes especially in Northeast Asia.

Indonesia’s palm oil exports totaled 1.86 million tonnes in September, down 22% from 2.38 million tonnes in August, according to the latest data published by the Indonesian Palm Oil Association (Gapki) on Thursday November 21.

Malaysia raised its crude palm oil (CPO) reference price for December to 4,471.39 ringgit ($1,059) per tonne, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Tuesday November 19.

China will cut the export tax rebate of 13% for chemically modified animal, plant or microbial oils and fats, including used cooking oil (UCO) and aluminium and copper products, in a statement by the country's Ministry of Finance on Friday November 15.

China imported 250,000 tonnes of corn in October, down from 310,000 tonnes in September, figures from the country’s General Administration of Customs (GACC) showed on Monday November 18.

India’s palm oil imports rose to a three-month high in October at 845,681 tonnes – up a whopping 60% compared with September levels, according to figures from industry group Solvent Extractors Association of India (SEA) on Tuesday November 13.

Freight rates for vessels carrying palm oil cargoes within Asia were flat in the week to Wednesday November 13, after charterer sentiment remained lackluster amidst tightened tonnage caused by weather woes especially in Northeast Asia.

Mixed levels of readiness among European member states may hinder the implementation of the European Union Deforestation Regulation (EUDR), according to speakers at the Indonesian Palm Oil Conference (IPOC) 2024, held in Bali last week.

Palm oil exports from Indonesia, the world’s largest producer of palm oil, are expected to post year-on-year declines in 2024-2025 on the back of higher domestic consumption and a mixed outlook for production, a senior official from the Indonesian Palm Oil Association (Gapki) said on Friday November 8.

Indian imports of edible oil are expected to fall despite higher consumption of the product due to higher domestic production, the president of the Solvent Extractors Association of India (SEA) said at the annual Indonesia Palm Oil conference on Friday November 6.

Freight rates for vessels carrying palm oil cargoes within Asia were steady in the week to Wednesday November 6, on still lackluster sentiment due to limited inquiries and concerns caused by typhoons in Northeast Asia the past week, sources told Fastmarkets.

Freight rates for vessels carrying palm oil cargoes within Asia fell across the board in the week to Wednesday October 23 on softer charterer sentiment for November.

Indonesia’s palm oil exports in August amounted to 2.38 million tonnes, up by 144,000 tonnes, or 6.38%, from 2.24 million tonnes in July, according to the latest data published by the Indonesian Palm Oil Association (Gapki) on Tuesday October 22.

Malaysia will raise its windfall tax threshold for palm oil and amend the market price structure and crude palm oil (CPO) export duty rate from November 1, the government said as part of its Budget 2025 announcement on Friday October 18.

Crude palm oil (CPO) prices are expected to average between 3,500 ringgit ($812) and 4,000 ringgit per tonne in 2025, Malaysia’s Ministry of Finance said in its Economic Outlook Report that was published on Friday October 18.

Freight rates for vessels carrying palm oil cargoes within Asia were up in the week to Wednesday October 16 on tightened tonnage spaces due to competition with aromatic products on Indian routes, as well as concerns that Indonesia would raise the levy for November.