VEGOILS-Palm oil tracks rival soyoil lower as U.S. moots biofuel mandate cuts
KUALA LUMPUR, Dec 8 (REUTERS) - Malaysian palm oil futures slipped on Wednesday, after two sessions of gains, as the market tracked losses in rival soyoil after the U.S raised a proposal to scale back biofuel blending mandates.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange slid 40 ringgit, or 0.81%, to 4,889 ringgit ($1,159.77) a tonne during early trade.
It had gained 0.14% during overnight trade.
FUNDAMENTALS
The Biden administration on Tuesday proposed scaling back the amount of biofuels that U.S. oil refiners were required to blend into their fuel mix since the onset of the COVID-19 pandemic.
Soyoil prices on the Chicago Board of Trade BOcv1 fell 1.9%. Dalian's most-active soyoil contract DBYcv1 eased 0.6%, while its palm oil contract DCPcv1 also slipped 0.7%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Oil prices edged lower on Wednesday, reversing gains from earlier the week, as investors tried to assess the full impact of the Omicron coronavirus variant on global fuel demand and the effectiveness of existing vaccines.
Weaker crude oil futures make palm a less attractive option for biodiesel feedstock.
Palm oil may rise more towards the peak of the wave b at 5,069 ringgit per tonne, as its uptrend from 4,032 ringgit may have resumed, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares extended gains, continuing a global relief rally as markets found positive news in early reports about the potential impact of the Omicron variant, although overnight advances in oil prices began to peter out.
By: via Malaysian Palm Oil Council Russia
вторник, 7 декабря 2021 г.
Malaysian Palm Oil Council Russia's Post
*Indonesia plans new palm plantation levy to protect environment - Reuters News*
07-Dec-2021 03:46:30 PM
JAKARTA, Dec 7 (Reuters) - Indonesia will bring in a new levy for palm plantations within the next two years, the proceeds of which will be used to protect public interests and the environment, its finance minister said on Tuesday.
The new levy will be collected by regional governments from local palm planters and is part of a new law aimed at increasing the fiscal capacity of provincial and city administrations, Sri Mulyani Indrawati told parliament after it passed the law.
There will be regulations detailing the implementation of the law, including about the new levy, and they must be issued within two years of the law's passage, Sri Mulyani said, without mentioning how much palm planters are expected to pay.
"The law provides an option to introduce a new levy to support regional fiscal capacity in order to provide quality services to the community ... in the context of public interest and environmental sustainability, such as a levy for the management of palm plantations," the minister said.
The law, which governs the relationship of Indonesia's central and local governments, will also give more space for regional administrations to raise some tax rates within the next few years, including land and building taxes.
Sri Mulyani said local governments should be able to increase revenues by about 50% after the new measures are applied.
The law will provide a legal basis for regional governments that have fiscal capacity to issue municipal bonds to fund development projects. No provinces or cities in Indonesia currently sells such bonds.
Because the legislation is aimed at standardising the quality of fiscal spending, the central government will review its transfer to local governments based on performance and results, Sri Mulyani said.
However, this was not meant to reverse the fiscal decentralisation policy adopted in the aftermath of the 1998 Asian financial crisis, she said.
By: via Malaysian Palm Oil Council Russia
07-Dec-2021 03:46:30 PM
JAKARTA, Dec 7 (Reuters) - Indonesia will bring in a new levy for palm plantations within the next two years, the proceeds of which will be used to protect public interests and the environment, its finance minister said on Tuesday.
The new levy will be collected by regional governments from local palm planters and is part of a new law aimed at increasing the fiscal capacity of provincial and city administrations, Sri Mulyani Indrawati told parliament after it passed the law.
There will be regulations detailing the implementation of the law, including about the new levy, and they must be issued within two years of the law's passage, Sri Mulyani said, without mentioning how much palm planters are expected to pay.
"The law provides an option to introduce a new levy to support regional fiscal capacity in order to provide quality services to the community ... in the context of public interest and environmental sustainability, such as a levy for the management of palm plantations," the minister said.
The law, which governs the relationship of Indonesia's central and local governments, will also give more space for regional administrations to raise some tax rates within the next few years, including land and building taxes.
Sri Mulyani said local governments should be able to increase revenues by about 50% after the new measures are applied.
The law will provide a legal basis for regional governments that have fiscal capacity to issue municipal bonds to fund development projects. No provinces or cities in Indonesia currently sells such bonds.
Because the legislation is aimed at standardising the quality of fiscal spending, the central government will review its transfer to local governments based on performance and results, Sri Mulyani said.
However, this was not meant to reverse the fiscal decentralisation policy adopted in the aftermath of the 1998 Asian financial crisis, she said.
By: via Malaysian Palm Oil Council Russia
понедельник, 6 декабря 2021 г.
Malaysian Palm Oil Council Russia's Post
*CIMB Poll Nov'21 vs Oct'21 MPOB:*
Prodn 1.704m vs 1.73m (-1.3%)
Impt 50k vs 50k
Expt 1.587m vs 1.42m (+11.9%)
LDsp 282k vs 281k
Stks 1.72m vs 1.83m (-6.2%)
Reuters Poll Nov'21 vs Oct'21 MPOB:
Prodn 1.74m vs 1.73m (+1.0%)
Impt 60k vs 50k
Expt 1.59m vs 1.42m (+11.9%)
LDsp 313k vs 281k
Stks 1.77m vs 1.83m (-3.5%)
Bloomberg Poll Nov'21 vs Oct'21 MPOB:
Prodn 1.71m vs 1.73m (-1.2%)
Impt 60k vs 50k
Expt 1.56m vs 1.42m (+10.0%)
LDsp 250k-310k vs 281k
Stks 1.78m vs 1.83m (-2.7%)
By: via Malaysian Palm Oil Council Russia
Prodn 1.704m vs 1.73m (-1.3%)
Impt 50k vs 50k
Expt 1.587m vs 1.42m (+11.9%)
LDsp 282k vs 281k
Stks 1.72m vs 1.83m (-6.2%)
Reuters Poll Nov'21 vs Oct'21 MPOB:
Prodn 1.74m vs 1.73m (+1.0%)
Impt 60k vs 50k
Expt 1.59m vs 1.42m (+11.9%)
LDsp 313k vs 281k
Stks 1.77m vs 1.83m (-3.5%)
Bloomberg Poll Nov'21 vs Oct'21 MPOB:
Prodn 1.71m vs 1.73m (-1.2%)
Impt 60k vs 50k
Expt 1.56m vs 1.42m (+10.0%)
LDsp 250k-310k vs 281k
Stks 1.78m vs 1.83m (-2.7%)
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm oil climbs to one-week peak on tight supply hopes
KUALA LUMPUR, Dec 7 (Reuters) - Malaysian palm oil futures rose on Tuesday, hitting a one-week high on expectations of a decline in November stockpile and production.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 69 ringgit, or 1.43%, to 4,814 ringgit ($1,137.79) a tonne during early trade, its highest since Nov. 29.
It had gained 0.6% during its first night trading session on Monday.
FUNDAMENTALS
Malaysia's palm oil inventories at end-November likely slipped 3.5% from the previous month to a four-month low of 1.77 million tonnes, a Reuters survey showed on Monday.
The Malaysian Palm Oil Association estimated production in November declined 4.74% from the month before to 1.65 million tonnes, traders said on Monday.
Investors are awaiting official data from the Malaysian Palm Oil Board due Friday.
Dalian's most-active soyoil contract DBYcv1 rose 0.4%, while its palm oil contract DCPcv1 rose 0.6%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.4%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may break a resistance at 4,812 ringgit per tonne and rise into a range of 4,873-4,948 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian stocks edged higher on receding worries about the impact of the Omicron variant while Chinese markets gained after the central bank there eased monetary policy.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Dec 7 (Reuters) - Malaysian palm oil futures rose on Tuesday, hitting a one-week high on expectations of a decline in November stockpile and production.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange gained 69 ringgit, or 1.43%, to 4,814 ringgit ($1,137.79) a tonne during early trade, its highest since Nov. 29.
It had gained 0.6% during its first night trading session on Monday.
FUNDAMENTALS
Malaysia's palm oil inventories at end-November likely slipped 3.5% from the previous month to a four-month low of 1.77 million tonnes, a Reuters survey showed on Monday.
The Malaysian Palm Oil Association estimated production in November declined 4.74% from the month before to 1.65 million tonnes, traders said on Monday.
Investors are awaiting official data from the Malaysian Palm Oil Board due Friday.
Dalian's most-active soyoil contract DBYcv1 rose 0.4%, while its palm oil contract DCPcv1 rose 0.6%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.4%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may break a resistance at 4,812 ringgit per tonne and rise into a range of 4,873-4,948 ringgit, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian stocks edged higher on receding worries about the impact of the Omicron variant while Chinese markets gained after the central bank there eased monetary policy.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
The Growing Demand in Oleochemicals in the US Beauty & Personal Care Market
https://mpoc.org.my/the-growing-demand-in-oleochemicals-in-the-us-beauty-personal-care-market/
The United States (US) is one of the most lucrative beauty and personal care market in the world, along with the EU, UK, and Russian markets. This sector is expected to grow annually by 4.06% based on 2021-2025 CAGR. The Beauty & Personal Care market is defined as consumer goods for cosmetics and body care […]
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/the-growing-demand-in-oleochemicals-in-the-us-beauty-personal-care-market/
The United States (US) is one of the most lucrative beauty and personal care market in the world, along with the EU, UK, and Russian markets. This sector is expected to grow annually by 4.06% based on 2021-2025 CAGR. The Beauty & Personal Care market is defined as consumer goods for cosmetics and body care […]
By: via Malaysian Palm Oil Council Russia
воскресенье, 5 декабря 2021 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm rises 3% on lower production, November stocks forecasts
KUALA LUMPUR, Dec 6 (Reuters) - Malaysian palm oil futures jumped 3% on Monday as industry surveys ahead of official data pegged a decline in November stockpile, and after top analysts forecast production to remain weak in the coming months.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange rose 142 ringgit, or 3.05%, to 4,792 ringgit a tonne in early trade, heading for its biggest daily gain since Oct. 13.
FUNDAMENTALS
Malaysia's palm oil stockpile in November likely fell 6.2% from the month before to 1.72 million tonnes due to a surge in exports while production declined slightly, Ivy Ng, regional head of plantations research at CGS-CIMB Research, said in a note.
The Malaysian Palm Oil Board is scheduled to release November supply and demand data on Friday.
Palm oil production will likely remain soft until at least the first half of 2022, which would continue to provide cushion for prices in the coming months, despite caution of reaching peaks, top industry analysts said on Thursday.
Dalian's most-active soyoil contract DBYcv1 rose 3.2%, while its palm oil contract DCPcv1 gained 3.1%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.6%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil is expected to bounce in 4,751-4,812 ringgit range, as it has completed a fall from 5,069 ringgit around a key support at 4,555 ringgit per tonne, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets lagged a bounce in U.S. and European futures on Monday, while bonds surrendered some of their recent gains and oil rallied as Saudi Arabia lifted its crude prices.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Dec 6 (Reuters) - Malaysian palm oil futures jumped 3% on Monday as industry surveys ahead of official data pegged a decline in November stockpile, and after top analysts forecast production to remain weak in the coming months.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange rose 142 ringgit, or 3.05%, to 4,792 ringgit a tonne in early trade, heading for its biggest daily gain since Oct. 13.
FUNDAMENTALS
Malaysia's palm oil stockpile in November likely fell 6.2% from the month before to 1.72 million tonnes due to a surge in exports while production declined slightly, Ivy Ng, regional head of plantations research at CGS-CIMB Research, said in a note.
The Malaysian Palm Oil Board is scheduled to release November supply and demand data on Friday.
Palm oil production will likely remain soft until at least the first half of 2022, which would continue to provide cushion for prices in the coming months, despite caution of reaching peaks, top industry analysts said on Thursday.
Dalian's most-active soyoil contract DBYcv1 rose 3.2%, while its palm oil contract DCPcv1 gained 3.1%. Soyoil prices on the Chicago Board of Trade BOcv1 were up 0.6%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil is expected to bounce in 4,751-4,812 ringgit range, as it has completed a fall from 5,069 ringgit around a key support at 4,555 ringgit per tonne, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian share markets lagged a bounce in U.S. and European futures on Monday, while bonds surrendered some of their recent gains and oil rallied as Saudi Arabia lifted its crude prices.
By: via Malaysian Palm Oil Council Russia
пятница, 3 декабря 2021 г.
Malaysian Palm Oil Council Russia's Post
Russia's export tax for sunflower oil to rise to $280.8/T in January
MOSCOW, Dec 3 (Reuters) - Russia has set its export tax for sunflower oil at $280.8 per tonne for January, up from $276.7 per tonne in December, the agriculture ministry said on Friday.
The government decided to launch a formula-based tax from Sept. 1 for one year as part of measures it hopes will help to stabilise domestic food price inflation.
The January tax is based on an indicative price of $1,401.2 per tonne, the ministry said.
By: via Malaysian Palm Oil Council Russia
MOSCOW, Dec 3 (Reuters) - Russia has set its export tax for sunflower oil at $280.8 per tonne for January, up from $276.7 per tonne in December, the agriculture ministry said on Friday.
The government decided to launch a formula-based tax from Sept. 1 for one year as part of measures it hopes will help to stabilise domestic food price inflation.
The January tax is based on an indicative price of $1,401.2 per tonne, the ministry said.
By: via Malaysian Palm Oil Council Russia
четверг, 2 декабря 2021 г.
Malaysian Palm Oil Council Russia's Post
Common Birds in Oil Palm Plantations in Malaysia Part 2
https://mpoc.org.my/common-birds-in-oil-palm-plantations-in-malaysia-part-2/
Common Birds in Oil Palm Plantations in Malaysia Part 2
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/common-birds-in-oil-palm-plantations-in-malaysia-part-2/
Common Birds in Oil Palm Plantations in Malaysia Part 2
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
Industrial Trans-Fats
https://mpoc.org.my/industrial-trans-fats/
Partial hydrogenation is a process that increases the melting point and solids content of liquid oil.
The post Industrial Trans-Fats (https://mpoc.org.my/industrial-trans-fats/) appeared first on MPOC (https://mpoc.org.my/).
By: via Malaysian Palm Oil Council Russia
https://mpoc.org.my/industrial-trans-fats/
Partial hydrogenation is a process that increases the melting point and solids content of liquid oil.
The post Industrial Trans-Fats (https://mpoc.org.my/industrial-trans-fats/) appeared first on MPOC (https://mpoc.org.my/).
By: via Malaysian Palm Oil Council Russia
среда, 1 декабря 2021 г.
Malaysian Palm Oil Council Russia's Post
VEGOILS-Palm drops more than 2% as Omicron variant worries weigh
KUALA LUMPUR, Dec 2 (Reuters) - Malaysian palm oil futures fell more than 2% on Thursday to hit their lowest in nearly two months, as concerns about the Omicron coronavirus variant and its impact overshadowed an industry forecast of lower November output.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange slid 99 ringgit, or 2.11%, to 4,585 ringgit ($1,085.72) a tonne in early trade, hitting its lowest since Oct. 4.
FUNDAMENTALS
Heavily mutated Omicron is rapidly becoming the dominant variant of the coronavirus in South Africa less than four weeks after it was first detected there, and the United States on Wednesday became the latest country to identify an Omicron case within its borders.
The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated November production fell 6.8% from the month before, traders said on Wednesday.
Top producer Indonesia will need to increase the bio-content of its palm oil-based biodiesel to 40% by 2024 or risk missing its renewable energy targets, a senior official said on Wednesday.
Dalian's most-active soyoil contract DBYcv1 fell 0.6%, while its palm oil contract DCPcv1 eased 0.5%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.6%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may resume its drop towards 4,555 ringgit per tonne, as its consolidation around a support at 4,676 ringgit may have completed, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares edged higher in choppy trading, helped by advances in Chinese real estate shares, though fears about the Omicron variant capped gains regionally.
By: via Malaysian Palm Oil Council Russia
KUALA LUMPUR, Dec 2 (Reuters) - Malaysian palm oil futures fell more than 2% on Thursday to hit their lowest in nearly two months, as concerns about the Omicron coronavirus variant and its impact overshadowed an industry forecast of lower November output.
The benchmark palm oil contract FCPOc3 for February delivery on the Bursa Malaysia Derivatives Exchange slid 99 ringgit, or 2.11%, to 4,585 ringgit ($1,085.72) a tonne in early trade, hitting its lowest since Oct. 4.
FUNDAMENTALS
Heavily mutated Omicron is rapidly becoming the dominant variant of the coronavirus in South Africa less than four weeks after it was first detected there, and the United States on Wednesday became the latest country to identify an Omicron case within its borders.
The Southern Peninsula Palm Oil Millers' Association (SPPOMA) estimated November production fell 6.8% from the month before, traders said on Wednesday.
Top producer Indonesia will need to increase the bio-content of its palm oil-based biodiesel to 40% by 2024 or risk missing its renewable energy targets, a senior official said on Wednesday.
Dalian's most-active soyoil contract DBYcv1 fell 0.6%, while its palm oil contract DCPcv1 eased 0.5%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.6%.
Palm oil is affected by price movements in related oils as they compete for a share in the global vegetable oils market.
Palm oil may resume its drop towards 4,555 ringgit per tonne, as its consolidation around a support at 4,676 ringgit may have completed, Reuters technical analyst Wang Tao said.
MARKET NEWS
Asian shares edged higher in choppy trading, helped by advances in Chinese real estate shares, though fears about the Omicron variant capped gains regionally.
By: via Malaysian Palm Oil Council Russia
Malaysian Palm Oil Council Russia's Post
GRAINS-Wheat extends gains to second day, Omicron and supply outlook cap gains
CANBERRA, Dec 2 (Reuters) - U.S. wheat futures edged higher for a second consecutive session on Thursday, although concerns about the Omicron coronavirus variant and expectations of ample global supplies capped gains.
FUNDAMENTALS
The most-active wheat futures on the Chicago Board Of Trade Wv1 were up 0.2% at $7.92 a bushel by 0238 GMT, after closing up 0.4% on Wednesday.
The most-active soybean futures Sv1 were down 0.3% at $12.24-3/4 a bushel, after ending 0.9% higher on Wednesday.
The most-active corn futures Cv1 were down 0.3% at $5.70-1/2 a bushel, having closed up 0.7% in the previous session.
Wheat markets have soared in recent weeks as the possibility of more Russian export restrictions and the risk of rain damage to Australia's crop fanned fears of tight milling wheat supplies.
However, global supply worries have eased in recent days on signs of a stabilizing U.S. crop, and Australia's chief commodity forecaster, ABARES, revising its official estimate for the 2021/22 crop to a record 34.4 million tonnes.
MARKET NEWS
The safe-haven yen hovered near a seven-week high on Thursday while the rand and riskier currencies languished as the Omicron coronavirus variant established itself as the dominant strain in South Africa and continued to spread globally.
Oil prices rose on Thursday, reversing the previous day's losses, on expectations OPEC+ may pause supply additions amid growing concern the spread of the Omicron coronavirus variant could weigh on the global economy and fuel demand.
Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally.
By: via Malaysian Palm Oil Council Russia
CANBERRA, Dec 2 (Reuters) - U.S. wheat futures edged higher for a second consecutive session on Thursday, although concerns about the Omicron coronavirus variant and expectations of ample global supplies capped gains.
FUNDAMENTALS
The most-active wheat futures on the Chicago Board Of Trade Wv1 were up 0.2% at $7.92 a bushel by 0238 GMT, after closing up 0.4% on Wednesday.
The most-active soybean futures Sv1 were down 0.3% at $12.24-3/4 a bushel, after ending 0.9% higher on Wednesday.
The most-active corn futures Cv1 were down 0.3% at $5.70-1/2 a bushel, having closed up 0.7% in the previous session.
Wheat markets have soared in recent weeks as the possibility of more Russian export restrictions and the risk of rain damage to Australia's crop fanned fears of tight milling wheat supplies.
However, global supply worries have eased in recent days on signs of a stabilizing U.S. crop, and Australia's chief commodity forecaster, ABARES, revising its official estimate for the 2021/22 crop to a record 34.4 million tonnes.
MARKET NEWS
The safe-haven yen hovered near a seven-week high on Thursday while the rand and riskier currencies languished as the Omicron coronavirus variant established itself as the dominant strain in South Africa and continued to spread globally.
Oil prices rose on Thursday, reversing the previous day's losses, on expectations OPEC+ may pause supply additions amid growing concern the spread of the Omicron coronavirus variant could weigh on the global economy and fuel demand.
Asian shares edged higher in choppy trading on Thursday, helped by advances in Chinese real estate shares, though fears about the Omicron variant of the new coronavirus capped gains regionally.
By: via Malaysian Palm Oil Council Russia
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