NEWS CENTER

Supply and demand data released by the Malaysian Palm Oil Board (MPOB) on March 11 showed that Malaysian palm oil stocks fell to their lowest level in seven months at the end of February, as production hit a 10-month low, offsetting the impact of slowing exports.

The Malaysian Palm Oil Board (MPOB) said on March 11 that palm oil production in February was about 1.26 million tons, down 10.18 percent from the previous month, the lowest since July 2023. Palm oil exports plunged 24.75 percent to 1.02 million tonnes in February.

Malaysian palm oil exports rose between 6.2 and 6.8 per cent month-on-month in early March, according to shipping survey agency ITS and AmSpecAgri.

Malaysia's palm oil production has increased so far in March, and the increase in palm oil exports has fallen short of market expectations, which is also unfavorable to prices. South Malaysia Palm Oil Association (SPOMMA) said that South Malaysia's palm oil production in the first half of March increased by 38.8.

According to data released by shipping survey agencies, Malaysia's palm oil exports increased by 8% to 2% from March 1-15 compared with the previous month. In contrast, Malaysia's palm oil exports increased by 6% to 8% from March 1-10 compared with the previous month.

According to data from ITS, a shipping survey agency, Indonesia exported 1.59 million tons of palm oil in February 2024, down 25.35 percent from 2.13 million tons in January.

The Malaysian Palm Oil Council (MPOC) said that the palm oil trading range will fall back to RM3800 to RM4000 in April this year.

According to ITS data from shipping investigation agency, Malaysia exported 1082405 tons of palm oil from March 1 to 25, up 13.77 percent from 951409 tons in the same period last month.

On March 25, the Indonesian President's Office (KSP) asked the government to consider changing the domestic market obligation (DMO) policy for palm oil to be based on production rather than exports.

Malaysian benchmark crude palm oil prices are expected to weaken from the second quarter of this year due to increased global vegetable oil supplies, Fitch Ratings said on Wednesday.

On March 27, the Malaysian Derivatives Exchange (BMD) crude palm oil futures fell for the second consecutive day, closing at a two-week low, mainly due to the decline in external edible oil and crude oil markets.

The latest data from the Department of Foreign Trade of the Ministry of Commerce show that from March 1 to 15, 2024, palm oil imports actually shipped 91100 tons, down 47.20 percent from the same period last year; imports are forecast to ship 90700 tons this month, down 69.35 percent from the same period last year; imports are forecast to ship 0 tons next month, down 100.00 percent from the same period last year.

The latest data from the Department of Foreign Trade of the Ministry of Commerce show that palm oil imports actually arrived at 24000 tons from March 0 to 15, 2024, down 72.40 percent from the same period last year; the next forecast is 102600 tons, down 41.54 percent from the same period last year; the actual arrival this month is 126700 tons, down 51.77 percent from the same period last year; and the forecast is 0 tons next month, down 99.99 percent from the same period last year.