Articles By Regina Koh

Indonesia’s trade ministry has revised its domestic market obligation (DMO) policy for palm oil as part of efforts to ensure supplies of cheap local cooking oil by raising its maximum selling price and introducing new multiplier incentives, according to regulation documents issued over the weekend.

India’s edible vegetable oil imports in July 2024 came to a total of 1.84 million tonnes, 20.5% higher compared with June and the highest level since August 2023, according to figures from industry body Solvent Extractors Association (SEA) India, published on Wednesday August 14.

Singapore-based Wilmar International saw a decline in its palm fresh fruit bunch (FFB) production in the first six months of its financial year ending June 30 2024, with FFB output coming in at 1.95 million tonnes, down by 6% from the same period a year earlier, according to the company’s earnings statement released on Tuesday August 13.

Malaysia’s palm oil stocks fell to 1.733 million tonnes at the end of July, down by 5.35% month on month, according to figures released by the Malaysian Palm Oil Board (MPOB) released on Monday August 12, with the drop exceeding earlier industry estimates.

South Korean feed importer Major Feedmill Group (MFG) has purchased around 68,000 tonnes of feed corn via a tender which concluded Friday August 9, trade sources have told Fastmarkets.

China’s soybean imports in July fell to 9.85 million tonnes, 11% lower than June and slightly higher than the 9.65 million tonnes imported in July last year, estimates from the country’s General Administration of Customs (GACC) showed on Wednesday August 7.

Taiwanese feed importer MFIG concluded its tender for September-October shipment corn, picking up around 65,000 tonnes from trading house ADM on Wednesday July 31, sources told Fastmarkets.

Indonesia’s palm oil exports in May fell by 9.7% month on month to 1.966 million tonnes, according to a release by the Indonesian Palm Oil Association (Gapki) on Monday July 29.

China’s soybean imports from Brazil in the first half of 2024 totaled 34.4 million tonnes, 16.1% higher than a year ago and a record high for the corresponding period, according to data from the country’s General Administration of Customs (GACC) released over the weekend.

China’s soyoil inventories were estimated at 1.06 million tonnes in the week ending July 12, or 40,000 tonnes higher than a week earlier, figures from the China National Grain and Oils Information Centre (CNGOIC) published on Thursday July 18 showed.

China’s corn imports in June continued to fall for the sixth straight month, with estimates from the country’s General Administration of Customs (GACC) reported at 920,000 tonnes on Thursday July 18 – the lowest level seen since December 2022.

Malaysia has raised its crude palm oil (CPO) reference price for August to 3,880.86 ringgit ($829) per tonne, a slight increase from July’s 3,839.63 ringgit per tonne, according to a circular issued by the Malaysian Palm Oil Board (MPOB) on Thursday July 18.

China concluded an imported soybeans auction on Wednesday July 17 with a total of 233,406 tonnes sold out of the 547,614 tonnes offered, yielding a 42.6% clearance rate, sources told Fastmarkets.

China’s soybean crush volume in the week ended Friday July 12 rose from the previous week to 2.06 million tonnes, figures from the China National Grain and Oils Information Centre (CNGOIC) released this week showed.

Taiwanese feed importer MFIG concluded its buy tender for optional-origin corn on Wednesday July 17, picking up around 65,000 tonnes of the grain, sources told Fastmarkets.

Taiwanese feed buyer MFIG is in the market for up to 65,000 tonnes of optional-origin corn via a tender which closes on Wednesday July 17, sources told Fastmarkets.

South Korean feed importer Major Feedmill Group (MFG) concluded its buy tender for December-arrival corn without making any purchases, sources told Fastmarkets on Friday July 12.

China’s soybean imports rose to 11.11 million tonnes in June, up from May’s 10.22 million tonnes and 10.7% more than the level imported a year ago, figures released by the country’s General Administration of Customs (GACC) on Friday July 12 show.

South Korean feed importer Feed Leaders Committee (FLC) has picked up one cargo of feed wheat for October arrival via a private deal on Friday July 12, sources told Fastmarkets.

India’s edible vegetable oil imports in June rose by 2% from May to 1.53 million tonnes, data from the Solvent Extractors Association of India (SEA) released on Thursday July 11 showed.