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Analysts at the Chinese agriculture outlook committee (CAOC) have kept their estimates for corn, soybeans and vegoils supply and demand in the 2024/2025 crop year unchanged from their October report in the latest China Agricultural Supply and Demand Estimates (CASDE) released on Friday November 8.
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.
India intensified its buying of soyoil in the week to Friday November 1, with trade sources telling Fastmarkets that 150,000-160,000 tonnes have been bought since Monday because soyoil is the most competitive vegoils option and the supply-demand balance was looking tighter for the world’s largest importer of edible oils.
Malaysia’s exports of palm oil in October rose to 1.55 million tonnes, up by 196,417 tonnes (14.5%) from September’s 1.35 million tonnes, according to cargo surveyor Intertek Testing Services (ITS).
Traders in the European palm oil and palm derivatives markets may be considering selling out some of the stocks built up ahead of the onset of European deforestation legislation, sources have told Fastmarkets on Thursday October 31.
Indonesia has set its crude palm oil (CPO) reference price for November at $961.97 per tonne, according to a circular issued by the Ministry of Trade on Thursday October 31.
China’s combined stocks of soybean oil, rapeseed oil and palm oil in the week to Friday October 25 were down by 50,000 tonnes to 1.99 million tonnes from the previous week’s 2.04 million tonnes, according to data from the China National Grain and Oils Information Center (CNGOIC) on Wednesday October 30.
Freight rates for vessels carrying palm oil cargoes within Asia were broadly stable in the week to Wednesday October 30, though inquiries for November vessels have remained thin, sources have told Fastmarkets.
Malaysia’s palm oil exports during October 1-25 continued to show a rise from September, with volumes estimated at 1.25 million tonnes, according to data from cargo surveyor Intertek Testing Services (ITS).
The first indications for crude palm oil (CPO) cargoes for loading in 2025 have been heard discussed in the key Rotterdam delivery market, with traders showing increased signs of getting back to work after European deforestation rules were shelved in September.
China’s stocks of soybean oil, rapeseed oil and palm oil were recorded at 2.04 million tonnes in the week to Friday October 18, down from 2.06 million tonnes the previous week, according to data from the China National Grain and Oils Information Center (CNGOIC) on Thursday October 24.
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's Ministry of Finance (MoF) released an appendix late on Friday October 18 evening detailing its proposed revision of the export duty rates for crude palm oil (CPO) that was announced on the same day.
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.
China imported 310,000 tonnes of corn in September, a further drop from August’s 428,467 tonnes and the lowest since March 2020 when imports were around 318,000 tonnes, figures from the country’s General Administration of Customs (GACC) showed on Friday October 18.
China’s vegoil inventories consisting of soybean oil, rapeseed oil and palm oil totaled 2.06 million tonnes in the week to Friday October 11, according to data from the China National Grain and Oil Information Centre (CNGOIC) on Thursday October 17.