Palm oil welcomes 2020 with a bang ! | Malay Mail

File picture shows Prime Minister Tun Dr Mahathir Mohamad officiating the MPOB International Palm Oil Congress and Exhibition 2019 in Kuala Lumpur November 19, 2019. — Picture by Ahmad Zamzahuri

“The golden crop is expected to have a stellar performance throughout the year,” he said in his Palm Oil Supply and Demand Outlook 2020. “They have the potential to lift the index higher but we must be wary of the higher ringgit that could make the palm oil expensive, reducing export prospects,” Singapore- based Palm Oil Analytics owner and co-founder Dr Sathia Varqa told Bernama.Yusof said with China’s soybean crushing activity and imports of rapeseed and rapeseed oil expected to fall, palm oil stands a big chance to capitalise on the market.

Of the total amount, palm oil imports contributed 9.9 million tonnes, slightly higher from 9.5 million tonnes recorded in the previous year. The latest tax adjustment according to him, would see the difference between CPO and Refined Bleached Deodorised palm olein decreased to 7.50 per cent from the previous 10 per cent and this will depress the Indian refiners’ margin.

Similarly, Malaysia is also planning to increase its biodiesel blend from B10 to B20 for the transportation sector and B7 to B10 for the industrial sector in 2020.“In other words, if the CPO supply is limited due to lack of fertiliser application and extreme weather, the biodiesel implementation will further limit the palm oil supply from both Indonesia and Malaysia; therefore the outlook for palm oil 2020 will be positive, “ according to the CPOPC executive director.

Source: News Formal (newsformal.com)

Yes BANE!

Malaysia Latest News, Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Socso casts net on 19 more sectorsTHE Social Security Organisation (Socso) has expanded its scheme for the self-employed to 19 more sectors, effective Jan 1.
Source: NST_Online - 🏆 17. / 53 Read more »

SKSPS masuk 19 sektor lagiPERTUBUHAN Keselamatan Sosial (Perkeso) memperluaskan lagi Skim Keselamatan Sosial Pekerja Sendiri (SKSPS) kepada 19 sektor tidak formal selain daripada sektor pengangkutan penumpang berkuat kuasa 1 Januari lalu.
Source: hmetromy - 🏆 26. / 51 Read more »

Bus crash kills 19, injures dozens on Myanmar-Thai borderYANGON: A head-on collision between a bus and a car in mountains on the Myanmar-Thai border killed 19 and left more than 30 injured on Friday (Jan 1).
Source: staronline - 🏆 4. / 75 Read more »

Bus crash kills 19, injures dozens on Myanmar-Thai borderYANGON: A head-on collision between a bus and a car in mountains on the Myanmar-Thai border killed 19 and left more than 30 injured on Friday.
Source: NST_Online - 🏆 17. / 53 Read more »

Oil, safe havens surge after US strikes kill Iran commander | Malay MailNEW YORK, Jan 4 — Oil prices surged as much as US$3 (RM12.31) a barrel as gold, the yen and safe-haven bonds all rallied yesterday after the US killing of Iran’s top military commander in an air strike in Iraq ratcheted up tensions between Washington and Tehran. Traders were spooked after the...
Source: malaymail - 🏆 1. / 86 Read more »

Oil rises after US killing of top Iranian general fuels war fears | Malay MailNEW YORK, Jan 5 — World oil prices jumped on Friday after the US killed a top Iranian general, fanning fresh fears of conflict in the crude-rich Middle East, with Tehran warning of “severe” retaliation. While global stock markets were mixed following the US killing of Qasem Soleimani, oil...
Source: malaymail - 🏆 1. / 86 Read more »