Articles By Min Jie Yaw

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.

Malaysia has set its crude palm oil (CPO) reference price for October at 3,949.73 ringgit ($920) per tonne, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Wednesday October 16.

Freight rates for vessels carrying palm oil cargoes within Asia held steady in the week to Wednesday October 9, as palm inquiries for October improved, with still healthy tonnage available.

The premium of crude palm oil (CPO) to soyoil on a CFR India basis has jumped by $10 per tonne (25%) to $50 per tonne as of Wednesday October 2 from a month ago, after the rise in CPO prices outpaced that for soyoil.

Freight rates for vessels carrying palm oil cargoes within Asia were rangebound in the week to Wednesday October 2 amid still weak demand from charterers and abundant tonnages.

Freight rates for vessels carrying palm oil cargoes within Asia were flat during the week to Wednesday September 25 on unchanged supply and demand fundamentals.

Indonesia is to revise the levy structure for palm oil exports, in a move designed to boost its competitiveness and provide added value to the prices of farmers' fresh fruit bunches, the country’s finance ministry announced on Thursday September 19.

Freight rates for vessels carrying palm oil cargoes within Asia softened during the week to Wednesday September 18 on still softer charterer sentiment, sources have told Fastmarkets.

Freight rates for vessels carrying palm oil cargoes within Asia were stable to soft during the week to Wednesday September 11 on limited inquiries and plentiful space available for September, sources told Fastmarkets.

Freight sentiment for routes carrying palm oil in Asia remained lackluster on Wednesday September 4, due to abundant tonnages.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India were unchanged in the week to Wednesday August 28 on unchanged fundamentals amid pessimistic sentiment due to abundant tonnage, sources told Fastmarkets.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India fell in the week to Wednesday August 21 on plentiful tonnage and limited fixing of stems.

Malaysia has raised its crude palm oil (CPO) reference price for September to 3,915.19 ringgit ($894) per tonne from 3,880.86 ringgit per tonne in August, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Tuesday August 20.