Articles By Min Jie Yaw

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.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India were unchanged in the week ended Wednesday August 14 amid available tonnage and limited inquiries from charterers.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India were largely static the week ended Wednesday August 7, amidst unchanged supply and demand fundamentals.

Long-haul freight rates for vessels carrying palm oil cargoes from Southeast Asia to Europe fell in the week to Wednesday July 31, while rates India were flat on unchanged supply/demand fundamentals, Fastmarkets understands.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India fell in the week ended Wednesday July 24, with an increase in tonnage availability due to reduced competition from clean petroleum product (CPP) cargoes.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India dipped in the week ended Wednesday July 17 on softer demand for tonnage.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India were flat week of Wednesday July 10, on unchanged supply and demand fundamentals.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to India were up in the week of Wednesday July 3, with charterers especially keen on August tonnage.

Indonesia raised its crude palm oil (CPO) reference price for July to $800.75 per tonne, up from $778.82 per tonne in June, the country’s trade ministry said in a government circular issued on Friday June 28.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to key destination markets were unchanged in the week to Wednesday June 26, with healthy sentiment regarding June and early July shipments.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to key destination markets were steady in the week to Wednesday June 19 amid continued positive sentiment for June shipments compared with a week earlier, Fastmarkets heard.

India imported 763,300 tonnes of palm oil in May, up 12% from April, retaining its majority share of the country’s vegoils imports, figures from industry group Solvent Extractors Association of India (SEA) showed on Thursday June 13.

Malaysia’s exports of palm oil for the first 10 days of June were down 24% from a month earlier at 262,386 tonnes, figures from cargo surveyor Intertek Testing Services (ITS) show.

Freight rates for vessels carrying palm oil cargoes from Southeast Asia to key destination markets have mainly risen compared with a week earlier, Fastmarkets heard on Wednesday June 12.

Indonesia has lowered its crude palm oil (CPO) reference price for June to $778.82 per tonne, down from $877.28 per tonne in May, the country’s ministry said in a government circular issued on Friday May 31.

Freight rates for vessels carrying palm oil from Southeast Asia to key destinations in the region held firm on Wednesday May 29 from the previous week, due to limited tonnage and positive demand.

Malaysia’s exports of palm oil for the first 25 days of May were up by 2.6% from a month earlier at 1.03 million tonnes, figures from cargo surveyor Intertek Testing Services (ITS) show.

Malaysia’s exports of palm oil for the first 20 days of May were down by 8% from a month earlier at 768,228 tonnes, figures from cargo surveyor Intertek Testing Services (ITS) show.

Malaysia, the world’s second largest producer of palm oil, has lowered its crude palm oil (CPO) reference price for June to 3,956.06 ringgit ($835) per tonne from 4,273.93 ringgit per tonne in May, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Thursday May 16.