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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.

China’s corn imports in July rose by 18.5% from June to 1.09 million tonnes, estimates from the country’s General Administration of Customs (GACC) released on Sunday August 18 show.

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.

Chinese soyoil inventories were estimated at 1.13 million tonnes in the week ended August 9, unchanged from a week earlier, according to figures from the China National Grain and Oils Information Center (CNGOIC) published on Thursday August 15.

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.

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.

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.

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.

Weekly soybean imports into the EU totaled 111,186 tonnes in the week ended Sunday August 4, according to initial data from the European Commission released on Tuesday August 6.

Chinese soyoil inventories were estimated at 1.1 million tonnes in the week ended July 26, 20,000 tonnes higher than a week earlier, figures from the China National Grain and Oils Information Centre (CNGOIC) published on Thursday August 1 showed.

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.

Weekly soybean imports into the EU totaled 200,646 tonnes in the week ended Sunday July 21, according to initial data from the European Commission released on Tuesday July 23.

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.

Stakeholders in India’s agriculture and food complex need to consider seriously the role of genetic modification (GM) in boosting the country’s production of oilseeds to meet mounting demand, delegates at the Vegoils Visions 2030 conference have been told.

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.

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.

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.

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.