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Beleggen in Palmolie

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Re: Beleggen in Palmolie

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India imported 285,829 tonnes of palm oil from Malaysia in April 2024

NEW DELHI (May 15): India imported 285,829 tonnes of palm oil from Malaysia in April this year, accounting for 21.6% of the country's total vegetable oil imports for the month.

The imports from Malaysia comprised 50,181 tonnes of refined, bleached, and deodorised (RBD) palmolein and 227,649 tonnes of crude palm oil (CPO).

India's edible oil imports in April were 1.3 million tonnes, almost 13.5% higher than the previous month’s volumes, data released by the industry group Solvent Extractors' Association of India showed on Tuesday (May 14).

The share of palm oil in last month's imports was 52%.

https://theedgemalaysia.com/node/711624




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Malaysia's burgeoning palm oil stockpile threatens to weigh on prices

KUALA LUMPUR (June 11): Malaysia’s stockpile of palm oil may continue to swell in the coming months on seasonal strength in production and weigh on prices, analysts cautioned.

At least seven research houses maintained their neutral view on the plantation sector following the release of palm oil stocks data by the Malaysian Palm Oil Board (MPOB) that showed a 0.5% month-on-month expansion in inventory for May.

Output will likely peak at the end of June or by the third quarter, supported by improving weather conditions and productivity, BIMB Securities said. Demand could be subdued as palm oil is still trading at a small discount against more expensive substitute soybean oil, the research house said.

Prices of the edible oil used in everything from lipstick to diesel have climbed about 5% so far this year as poor weather conditions in key producing nations Malaysia and Indonesia stoked concerns over output and potential tightening in supply.

The benchmark palm oil contract for August delivery was trading at around RM3,887 per tonne on Bursa Malaysia Derivatives on Tuesday. However, prices are down 12% from a high of RM4,407 per tonne on April 3.

Further, strong shipments in May are at risk from Indonesia's move to cut palm oil-related tariffs in June, which will reduce the export tax to US$18 (RM84.99) per tonne and the levy to US$75 per tonne. All in all, the move could lower export costs by US$49 per tonne compared to the previous month.

Malaysian palm oil exports are losing export competitiveness, TA Securities warned. If production stays at its current robust pace, it would lead to burgeoning palm oil stockpiles and potentially limit the upside, the research house said.

TA Securities would also review its current forecast for crude palm oil to average RM4,000 per tonne in 2024 if South America's soybean supply turns out to be lower than expected, demand recovers more meaningfully, and production costs fall significantly.

MPOB data released on Monday showed palm oil inventory totalling 1.75 million tonnes in May in the world’s largest palm oil producing nation after Indonesia, as higher exports and domestic consumption were more than offset by higher output.

Production surged 13.5% from April to 1.70 million tonnes in May, the biggest in six months. Exports, meanwhile, rose to a six-month high of 1.38 million tonnes, up 11.66% from April, the MPOB said.

For strategy, MIDF Amanah Investment Bank said now is the best time for investors to lock in profits for its top picks, such as Ta Ann Holdings Bhd (KL:TAANN) and IOI Corp Bhd (KL:IOICORP), "as we anticipate the increase in share price will gradually decline towards the end of the quarter”.

TA Securities, BIMB, and MIDF have a ‘neutral’ outlook on the sector.

https://theedgemalaysia.com/node/715012
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Anglo-Eastern reports weaker palm oil production

Palm oil producer Anglo-Eastern Plantations reported a 4% decrease in fresh fruit bunches production in the first five months of the year on Monday, to 403,200 metric tonnes, down from 420,300 tonnes in the same period last year.

The London-listed company, which was holding its annual general meeting, said high rainfall in Kalimantan affected harvesting, though crop production increased by 2% due to peak maturity of trees and a 6% rise in matured areas.#

However, plantations in North Sumatera, Riau, and Bengkulu saw production drops between 2% and 18%, primarily due to replanting activities and excessive rainfall.

Bought-in fresh fruit bunches fell 9% to 367,700 tonnes from 404,000 tonnes, impacted by damaged roads and a major supplier's decision to process its own crop.

As a result, crude palm oil (CPO) production dropped 9% to 154,400 metric tonnes.

The firm said the average CPO ex-Rotterdam price was $1,014 per tonne, slightly up from $1,006 per tonne last year, but the average ex-mill price fell 2% to $750 per tonne.

AEP said it now manages around 90,500 hectares of plantations in Indonesia and Malaysia, with 68,615 hectares planted.

New planting and replanting slowed to 426 hectares due to high rainfall.

The HPP mill, operational since early 2024, was set to start purchasing external crops in the third quarter once its effluent treatment plant is commissioned.

The eighth mill in the KAP estate was pending final environmental approval, with earthworks expected to begin in the third quarter.

Looking ahead, the board noted that the CPO price ex-Rotterdam closed at $1,018 per metric tonne on 5 June, up 9% from the start of the year.

However, demand for CPO was expected to weaken due to increased soybean production in South America and the seasonal peak in CPO harvests in the latter half of the year.

At 1056 BST, shares in Anglo-Eastern Plantations were down 0.3% at 666p.

Reporting by Josh White for Sharecast.com.

https://www.sharecast.com/news/news-and ... 81261.html
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Robots are stepping into one of Asia’s dirtiest farm jobs

(June 29): A drone buzzes between trees on a humid Malaysian morning, monitoring the oil palm fruits as they ripen. Self-driving trucks rumble over the vast plantation’s uneven ground, laying fertiliser and picking up the densely packed harvested bunches.

These are just some of the robots the Southeast Asian nation’s top palm growers hope will take over the sector’s most difficult and dirty jobs, plugging chronic worker shortages that have disrupted supplies of the world’s most-consumed edible oil.

With global stockpiles set for the first back-to-back decline in more than 40 years, Malaysia has every reason to push for automation to boost production. Increased awareness of the industry’s problematic reliance on migrant workers — clouded by restrictions and labour abuses — has also encouraged companies to find alternative solutions, said Datuk Mohamad Helmy Othman Basha, group managing director of SD Guthrie Bhd (KL:SDG), a government-linked company previously known as Sime Darby Plantation Bhd.

“To depend on foreign workers for all these key tasks is actually putting this industry at a very high risk,” Helmy said. “This is why we have to take this plunge. We really have to place these bets.”

Perfecting the robots and deploying them at a commercially viable scale will take years, even as firms pour millions into developing such technology and retraining their staff to use it. But producers are pressing ahead.

The plantation workforce in Malaysia — the world’s No 2 palm oil producer — was hollowed out during the pandemic, when border restrictions meant companies couldn’t bring in the foreign workers they so heavily rely on. It was the country’s worst-ever worker shortage and palm oil production plummeted, pushing prices to record highs. The industry lost billions.

SD Guthrie learned its lesson. Where possible, the firm has started using machines to take over non-harvesting jobs like spraying pesticide or monitoring fruit and yields. Where the industry average is currently for one worker to maintain 8-10 hectares of land, the company wants to boost that to about 17 hectares per worker with the aid of automation.

The company’s investment into robots is set to reach RM100 million — or about half its research and development budget — by year-end and it “will spend whatever is required to find a solution”, according to Helmy. Nearly 30% of its annual R&D budget will be spent on this initiative in the next three to four years.

The robots aren’t fully autonomous yet, meaning there is still a need for skilled workers to control and manoeuvre them. Plus, trickier tasks remain in the hands of humans — like safely cutting down ripe fruit bunches from trees that can be as tall as six-story buildings.

But the technological advances have already opened up an avenue for women to join a traditionally male-dominated workforce. Sri Norhidayu Kussain, a 41-year-old woman, says the robots help with backbreaking tasks like lifting 30-kg fruit bunches and loading them into trucks.

“The work is now easier because these machines have successfully reduced the need for physical labour. It’s no longer like before when only men could do these type of jobs,” said Norhidayu, who operates a pesticide-spraying vehicle that can do the job of six workers at SD Guthrie’s Sungai Linau estate in Malaysia’s central state of Selangor.

Women make up 3% of the company’s roughly 700 machine operators and Helmy says the company is trying to attract more.

Labour shortfalls have long been a headache for Malaysian businesses, partially because of strict immigration rules targeting low-skilled workers that in turn have encouraged trafficking and left thousands of undocumented workers without legal protection.
International scrutiny of labour abuses has pushed the country to reduce its reliance across several industries including manufacturing, construction and plantations.

SD Guthrie itself faced allegations of forced labour that resulted in a two-year US ban on imports of its products in 2020 — something that Helmy said urged the firm to explore automation.

“Automation, if rolled out strategically will not hurt workers’ livelihoods,” said Adrian Pereira, executive director at the North South Initiative, a Malaysia-based non-governmental organisation focused on social justice. “We really hope government-linked companies will take the lead and demonstrate that this sector can be free of forced labour soon.”

SD Guthrie is the first plantation company in the country to set up a research facility dedicated to developing robots. Other palm giants like Golden Agri-Resources Ltd and IOI Corp Bhd (KL:IOICORP) have also invested in mechanisation and artificial intelligence to help harvest the oil used in everything from chocolate to soaps and fuel.

A plantation run entirely by robots will not be a reality soon. Technical issues like getting the robots to self-navigate through hilly terrain or correctly identify ripe fruit bunches, have held back past automation initiatives. This is in stark contrast to crops like soybeans or rapeseed — waist-high row crops grown on flat fields — where farmers can tend to hundreds of hectares with tractors and giant harvesting machines.

But speaking amid whirring and beeping prototypes at the company’s robotics lab in Selangor, the firm’s chief digital officer Aditya Tuli said change was here to stay.

“Once we start mechanising, we do imagine that there will be an increase or a positive impact to production numbers,” he said. “We are chasing that.”

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India's June palm oil imports rise to six-month high on lower prices

KUALA LUMPUR (July 2): India's palm oil imports rose by 3% in June from the previous month to reach the highest level in six months on robust demand from refiners for upcoming festivals and as the oil traded at a discount to rival oils, five dealers told Reuters.

Higher palm oil purchases by India, the world's biggest importer of vegetable oils, could support the benchmark Malaysian palm oil futures that are trading near their highest level in more than two months.

Palm oil imports in June jumped to 788,000 metric tonnes, the highest since December, according to estimates from dealers.

"Buyers made purchases anticipating demand from the upcoming festival season. Additionally, palm oil was nearly US$80 (RM377.74) per tonne cheaper than other oils, which made it attractive," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.

Palm oil imports could rise to 850,000 tonnes in July, Bajoria added.

Crude palm oil's (CPO) imports are offered at about US$985 a metric tonne, including cost, insurance and freight (CIF), in India for August delivery, while soyoil is offered around US$1,065 a tonne and and sunflower oil at US$1,050 a tonne, dealers said.

India's sunflower oil imports in June jumped 14% from a month earlier to a record 467,000 tonnes, dealers said.

Sunflower oil imports could have exceeded 500,000 tonnes in June, but a few vessels were unable to berth at the ports before the month's end, said Rajesh Patel, managing partner at edible oil trader and broker GGN Research.

Soyoil imports fell 16% in June to 273,000 tonnes, dealers said.

Industry body the Solvent Extractors' Association of India (SEA) is likely to publish its data on June imports by mid-July.

Higher imports of palm oil and sunflower oil lifted the country's edible oil imports by 2% to 1.53 million tonnes, the highest in 10 months, they said.

India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

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Johor Plantations debuts flat after Malaysia's biggest IPO in over two years

KUALA LUMPUR (July 9): Shares in Johor Plantations Group Bhd (KL:JPG) opened flat in their trading debut on Tuesday, after the palm oil producer raised RM735 million from the country’s largest initial public offering (IPO) in more than two years.

Johor Plantations opened at 84 sen, unchanged from its IPO price, before dipping to 83 sen. The stock climbed to as high as 93 sen, and was trading at 91.5 sen at 9.30am, valuing the company at RM2.28 billion on Bursa Malaysia’s Main Market. More than 67 million shares changed hands so far.

The IPO is the largest in terms of proceeds since Farm Fresh Bhd (KL:FFB) raised RM1 billion in March 2022, and the second listing of a plantation company since MKH Oil Palm (East Kalimantan) Bhd (KL:MKHOP) in April, which grossed RM155.43 million.

Demand for Johor Plantations’ IPO was decent. The public tranche was oversubscribed by 2.18 times by the Malaysian public, while shares set aside for eligible persons were fully subscribed.

The offer for sale was also fully taken up by Bumiputera and institutional investors. The IPO was also backed by seven cornerstone investors — including Retirement Fund Inc (KWAP), abrdn, and AHAM Asset Management — who agreed to buy 40.8% of the institutional offering, while the remaining shares available for bookbuilding were covered 5.19 times.

Cornerstone investors — typically large institutional investors — commit to take up a big chunk of IPO shares before they are marketed to other retail and institutional investors. Their presence helps to build up other investors’ confidence for the shares during an IPO.

For Johor Plantations, the public issue raised RM389.76 million, of which more than half was earmarked for capital expenditure, including the construction of an integrated sustainable palm oil complex and replanting activities. The rest will go towards repaying bank borrowings, as working capital, and to defray listing expenses.

The offer for sale, meanwhile, raised RM345.2 million, which accrued entirely to the selling shareholder, Kulim (Malaysia) Bhd — a wholly owned unit of state-owned Johor Corp — which retained a 65% stake in Johor Plantations after the listing.

RHB Investment Bank Bhd is the principal adviser, joint global coordinator, joint bookrunner, managing underwriter and joint underwriter for the IPO. AmInvestment Bank Bhd and CIMB Investment Bank Bhd are joint global coordinators, joint bookrunners and joint underwriters.

CLSA Singapore Pte Ltd and CLSA Securities Malaysia Sdn Bhd are the joint global coordinators and joint bookrunners. Meanwhile, Affin Hwang Investment Bank Bhd is a joint bookrunner and joint underwriter.

https://theedgemalaysia.com/node/718211
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Indonesia's palm oil DMO rule changes will not affect export ratio, official says

JAKARTA (Aug 1): Indonesia's plan to revise domestic market obligation (DMO) rules for palm oil will not affect the DMO export ratio, a senior trade ministry official said on Thursday.

Indonesia, the world's biggest palm oil exporter, obliges producers to sell a portion of their output to the local market at a capped price in order to gain export permits.

Asked whether this DMO export ratio will change, Budi Santoso, director general of international trade, said there was "no plan yet" on such a change.

Export quotas are currently set at four times the volume of palm oil that companies supply locally under the DMO scheme. Extra allotments are given to companies that sell in smaller, household-friendly sizes.

As of the end of July, the outstanding palm oil export quota stood at 3.95 million metric tonnes, Budi said.

Under the revision, the government plans to raise the cooking oil price cap for the domestic market said Isy Karim, director general of domestic trade, as the current retail price has surpassed the cap that was set in 2022.

The new rule will no longer recognise bulk cooking oil as DMO portion, he added.

Indonesia in setting up the DMO scheme aimed to ensure 300,000 tonnes of cheap cooking oil was sold each month. However, the scheme in recent months has achieved only around half of that target due in part to a weak export market.

https://theedgemalaysia.com/node/721321




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India's July palm oil, soyoil imports surge on lower prices, dealers say

MUMBAI (Aug 2): India's palm and soybean oil imports surged to their highest levels in about a year in July, as refiners increased purchases following a price correction and in anticipation of a potential import duty hike, six dealers said on Friday.

Higher palm oil purchases by the world's biggest importer of vegetable oils will help reduce inventories in top producers Indonesia and Malaysia and support benchmark prices.

Palm oil imports surged 39% in July from the previous month to 1.09 million metric tonnes, the highest since August 2023, according to estimates from dealers.

The refining margin was positive for palm oil in May and June, during which most buyers placed orders for July shipments, said Rajesh Patel, managing partner at edible oil trader and broker GGN Research.

Soyoil imports in the month jumped 43% to 394,000 metric tonnes, the highest in 13 months, dealers said.

The imports also got a boost from expectations of a duty hike in the budget, which encouraged buyers to increase purchases, said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.

Last week, Finance Minister Nirmala Sitharaman presented the budget for the 2024-25 financial year, although she didn't make any changes to the duty structure on edible oils.

India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.

Sunflower oil imports fell 22% in July from the previous month's record shipments to 364,000 metric tonnes, dealers said.

A surge in imports of palm oil and soyoil lifted the country's total edible oil imports by 21% to 1.85 million tonnes, the second highest on record, as per dealers' estimate.

India on average has been importing 1.2 million tonnes of edible oil so far in the current marketing year, which began November 2023.

"The July imports could have been a record high, but berthing delays of eight to ten days at Kandla port prevented them from reaching that level," GGN Research's Patel said.

Industry body the Solvent Extractors' Association of India (SEA) is likely to publish its data on July imports by mid-August.

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Malaysia halts new oil palm plantations to preserve forest cover

SANDAKAN (Aug 18): Malaysia has pledged to halt new oil palm plantations in forest areas to support sustainability and maintain its current forest cover of 54%.

Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani said that palm fruits harvested from deforested areas will be barred from entering palm oil mills.

"Factories accepting such fruits will be prohibited from exporting or selling their products. I believe we have enough oil palm plantations.

“We want to maintain our forest cover at 54% to enhance biodiversity protection, including safeguarding orangutans," he said during the World Orangutan Day 2024 event here on Sunday.

He emphasised that this policy has been communicated to industry players through various previous engagements.

Johari stressed the need for Malaysia to ensure that all palm oil exports meet sustainability standards to prove the country’s commitment.

He noted that Sabah alone has 1.5 million hectares of oil palm plantations. Despite this, the palm oil industry faces criticism and negative propaganda from some Western countries regarding its sustainability.

“The government is committed to addressing these false claims. We are making Malaysian Sustainable Palm Oil (MSPO) certification mandatory for all producers, including estates and smallholders,” Johari added.

With over 80% of Malaysia’s palm oil production destined for export, the MSPO certification is vital for assuring buyers of the products' sustainability and quality.

Johari highlighted that the palm oil sector significantly contributes to Malaysia’s economy, representing 3% of GDP, generating over RM100 billion in export revenue and providing around one million jobs.

https://theedgemalaysia.com/node/723239
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Indonesia raises price cap in palm oil domestic scheme, trade ministry says

JAKARTA (Aug 19): Indonesia has revised its rules on its palm oil domestic market obligation (DMO) scheme, raising the price cap in a bid to improve supplies of cheap cooking oil, the trade ministry said.

Indonesia, the world's biggest palm-oil exporter, obliges producers to sell a portion of their output to the local market at a capped price in order to gain export permits.

Indonesia raised the price cap to 15,700 rupiah (RM4.40) from 14,000 rupiah per litre, and changed its DMO target to 250,000 metric tons per month from 300,000 metric tons.

The new rules did not mention any change to the export quotas, currently set at four times the volume of palm oil that companies supply locally under the scheme.

The trade ministry did not immediately respond to a request for comment on how the new rules would impact export quotas.

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