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Beleggen in Palmolie
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Re: Beleggen in Palmolie
Revenue falls, profit improves for Anglo-Eastern Plantations
Anglo-Eastern Plantations, a producer of palm oil and rubber with operations in Indonesia and Malaysia, reported first-half revenue of $166.7m in its interim results on Friday, down 4% from $173.4m in the same period last year.
The London-listed firm said that despite the revenue decline, profit before tax after accounting for biological assets (BA) movement increased 8.6% to $35.2m, up from $32.5m in the first half of 2023.
It said the growth in profit was largely driven by reduced manuring costs due to lower fertiliser prices, and an increase in the value of biological assets, reflecting better crop conditions.
Basic earnings per share rose significantly to 70.58 cents, compared to 50.73 cents in the prior year.
However, the group’s fresh fruit bunch (FFB) production decreased by 5% due to lower yields from older trees in Sumatra and reduced external crop purchases.
Operational efficiency improved with a gross profit margin increase to 21.8%, compared to 19.2% in the first six months of 2023.
The average crude palm oil (CPO) price ex-Rotterdam rose slightly to $1,018 per metric ton (mt), but the Group’s average ex-mill price was marginally lower at $749 due to competitive pricing factors.
Anglo-Eastern also noted a decrease in cash and cash equivalents, which fell to $150.8m from $167.1m at the end of 2023.
The reduction was primarily due to significant investments, capital expenditure, and losses from currency exchange fluctuations.
Looking ahead, Anglo-Eastern anticipated increased palm oil production in the second half of 2024, though it expected downward pressure on CPO prices due to weaker demand from major importers and increased global production of competing vegetable oils.
Despite the challenges, domestic initiatives in Indonesia, such as the Biodiesel B35 programme, were expected to support prices.
The group was optimistic about its performance for the remainder of the year, despite the ongoing risks of price fluctuations, currency exchange volatility, weather impacts, and regulatory changes.
At 1126 BST, shares in Anglo-Eastern Plantations were down 0.37% at 615.7p.
Reporting by Josh White for Sharecast.com.
https://www.sharecast.com/news/news-and ... 13419.html
Anglo-Eastern Plantations, a producer of palm oil and rubber with operations in Indonesia and Malaysia, reported first-half revenue of $166.7m in its interim results on Friday, down 4% from $173.4m in the same period last year.
The London-listed firm said that despite the revenue decline, profit before tax after accounting for biological assets (BA) movement increased 8.6% to $35.2m, up from $32.5m in the first half of 2023.
It said the growth in profit was largely driven by reduced manuring costs due to lower fertiliser prices, and an increase in the value of biological assets, reflecting better crop conditions.
Basic earnings per share rose significantly to 70.58 cents, compared to 50.73 cents in the prior year.
However, the group’s fresh fruit bunch (FFB) production decreased by 5% due to lower yields from older trees in Sumatra and reduced external crop purchases.
Operational efficiency improved with a gross profit margin increase to 21.8%, compared to 19.2% in the first six months of 2023.
The average crude palm oil (CPO) price ex-Rotterdam rose slightly to $1,018 per metric ton (mt), but the Group’s average ex-mill price was marginally lower at $749 due to competitive pricing factors.
Anglo-Eastern also noted a decrease in cash and cash equivalents, which fell to $150.8m from $167.1m at the end of 2023.
The reduction was primarily due to significant investments, capital expenditure, and losses from currency exchange fluctuations.
Looking ahead, Anglo-Eastern anticipated increased palm oil production in the second half of 2024, though it expected downward pressure on CPO prices due to weaker demand from major importers and increased global production of competing vegetable oils.
Despite the challenges, domestic initiatives in Indonesia, such as the Biodiesel B35 programme, were expected to support prices.
The group was optimistic about its performance for the remainder of the year, despite the ongoing risks of price fluctuations, currency exchange volatility, weather impacts, and regulatory changes.
At 1126 BST, shares in Anglo-Eastern Plantations were down 0.37% at 615.7p.
Reporting by Josh White for Sharecast.com.
https://www.sharecast.com/news/news-and ... 13419.html
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Re: Beleggen in Palmolie
Indonesian palm oil output set to fall on dry weather, old trees
(Aug 27): The outlook for Indonesia’s palm oil harvest has dimmed as dry weather and ageing trees crimp production in the world’s top grower, which will likely tighten global supply and keep prices elevated.
Output of the tropical oil this year is expected to be flat or as much as 5% lower than 2023, according to forecasts from the Indonesian Palm Oil Association and the Indonesian Palm Oil Board. The industry groups, which represent producers and refiners, had both predicted an increase earlier this year.
The US estimates global palm oil reserves are heading for the lowest level in three years, with the world’s second-largest grower — Malaysia — also facing supply issues due to old trees and a labour shortage. The tropical oil is used in a wide range of products from soap to ice cream and fuels.
Indonesia produced a record 54.84 million tons of palm oil in 2023, according to data from the country’s palm oil association, following three years of declining output. The industry group, known as Gapki, estimated output this year of 52 million to 53 million tons.
About a third of Indonesia’s key palm oil growing regions have seen lower than normal rainfall in July, including Sumatra and parts of Kalimantan, said M Hadi Sugeng, the secretary general of Gapki. The trend is expected to continue this month, he added. The group forecast production will be steady to 5% lower this year, compared with a February projection for a 5% increase.
The US Foreign Agricultural Service forecast Indonesian palm oil output from January to June declined by 2% from the same period last year, according to a report earlier this month. Drought caused trees to develop more male flowers and decreased the volume of fresh fruit bunches, it said.
Old plantations
Maturing trees continues to be a persistent problem for the industry. For many of the nation’s smallholders, their plantations are older than 25 years and they desperately need to be replenished to help boost output, said Sahat Sinaga, the acting chairman of the Indonesian Palm Oil Board.
Fresh fruit production has slipped to as low as 700kg a hectare at some plantations, from 830kg, Sinaga said. The board estimated Indonesian output this year would drop by 3%, compared with an January forecast for a gain.
“I am deeply concerned, Indonesia’s glory in palm oil could fade away if no one realises this issue,” Sinaga said, referring to ageing plantations.
https://theedgemalaysia.com/node/724368
(Aug 27): The outlook for Indonesia’s palm oil harvest has dimmed as dry weather and ageing trees crimp production in the world’s top grower, which will likely tighten global supply and keep prices elevated.
Output of the tropical oil this year is expected to be flat or as much as 5% lower than 2023, according to forecasts from the Indonesian Palm Oil Association and the Indonesian Palm Oil Board. The industry groups, which represent producers and refiners, had both predicted an increase earlier this year.
The US estimates global palm oil reserves are heading for the lowest level in three years, with the world’s second-largest grower — Malaysia — also facing supply issues due to old trees and a labour shortage. The tropical oil is used in a wide range of products from soap to ice cream and fuels.
Indonesia produced a record 54.84 million tons of palm oil in 2023, according to data from the country’s palm oil association, following three years of declining output. The industry group, known as Gapki, estimated output this year of 52 million to 53 million tons.
About a third of Indonesia’s key palm oil growing regions have seen lower than normal rainfall in July, including Sumatra and parts of Kalimantan, said M Hadi Sugeng, the secretary general of Gapki. The trend is expected to continue this month, he added. The group forecast production will be steady to 5% lower this year, compared with a February projection for a 5% increase.
The US Foreign Agricultural Service forecast Indonesian palm oil output from January to June declined by 2% from the same period last year, according to a report earlier this month. Drought caused trees to develop more male flowers and decreased the volume of fresh fruit bunches, it said.
Old plantations
Maturing trees continues to be a persistent problem for the industry. For many of the nation’s smallholders, their plantations are older than 25 years and they desperately need to be replenished to help boost output, said Sahat Sinaga, the acting chairman of the Indonesian Palm Oil Board.
Fresh fruit production has slipped to as low as 700kg a hectare at some plantations, from 830kg, Sinaga said. The board estimated Indonesian output this year would drop by 3%, compared with an January forecast for a gain.
“I am deeply concerned, Indonesia’s glory in palm oil could fade away if no one realises this issue,” Sinaga said, referring to ageing plantations.
https://theedgemalaysia.com/node/724368
- nobody
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- Lid geworden op: 09 mar 2022 13:32
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Re: Beleggen in Palmolie
Genting Plantations’ 2Q net profit rises 20% on higher palm product prices
KUALA LUMPUR (Aug 28): Genting Plantations Bhd’s (KL:GENP) net profit for the second quarter ended June 30, 2024 (2QFY2024) rose 19.94% to RM85.12 million, compared to RM70.97 million over the same period a year earlier, due to higher palm product prices.
Earnings per share for the quarter rose to 9.49 sen from 7.91 sen, its bourse filing showed. Revenue dipped 6.05% to RM757.16 million from RM805.95 million, owing to lower sales volume at its downstream manufacturing business.
The group declared an interim single tier dividend of eight sen per share, to be paid on Sept 30.
According to the group, the average selling price of its crude palm oil (CPO) rose 6% to RM3,797 per tonne from RM3,584 per tonne, while the average selling price of palm kernel increased 18% to RM2,299 per tonne from RM1,945 per tonne. Fresh fruit bunch (FFB) production, however, dipped 3% to 484,000 tonnes from 497,000 tonnes.
For the six months ended June 30, the group’s net profit grew 16.56% to RM127.95 million from RM109.78 million in the same period in FY2023, despite a 1.96% dip in revenue to RM1.36 billion from RM1.39 billion.
Genting Plantations said its outlook for the rest of the year will track the performance of its mainstay plantation segment, which is in turn dependent on the price movements of palm products and FFB production.
“Moving into the third quarter of 2024, palm oil prices eased slightly due to strengthening of the ringgit against the US Dollar. Nevertheless, palm oil prices are expected to remain supported in the short term with the anticipated tightening of global palm oil supply, following weaker production prospects,” it added.
Barring any unexpected weather condition, the group anticipates its FFB production in the second half of 2024 (2H2024) to exceed its first half. Despite the expected crop recovery, full-year production is projected to be similar to or slightly lower than the previous year, Genting Plantations said.
As for its property segment, Genting Plantations said it will continue to focus on diversity in its offerings to cater to the broader market.
“The Premium Outlets is also continuously improving its tenant portfolio to elevate clientele experience and satisfaction along with value-enhancing additions such as the Jakarta Premium Outlets, which is at an advanced stage of construction,” it said.
Outlook for its downstream manufacturing segment, however, is expected to remain challenging, given the continuing stiff competition from its Indonesian counterparts and the restrictive demand for palm-based biodiesel in export markets.
Shares of Genting Plantations closed eight sen or 1.04% lower to RM5.62 on Wednesday, valuing the group at RM5.04 billion.
https://theedgemalaysia.com/node/724710
KUALA LUMPUR (Aug 28): Genting Plantations Bhd’s (KL:GENP) net profit for the second quarter ended June 30, 2024 (2QFY2024) rose 19.94% to RM85.12 million, compared to RM70.97 million over the same period a year earlier, due to higher palm product prices.
Earnings per share for the quarter rose to 9.49 sen from 7.91 sen, its bourse filing showed. Revenue dipped 6.05% to RM757.16 million from RM805.95 million, owing to lower sales volume at its downstream manufacturing business.
The group declared an interim single tier dividend of eight sen per share, to be paid on Sept 30.
According to the group, the average selling price of its crude palm oil (CPO) rose 6% to RM3,797 per tonne from RM3,584 per tonne, while the average selling price of palm kernel increased 18% to RM2,299 per tonne from RM1,945 per tonne. Fresh fruit bunch (FFB) production, however, dipped 3% to 484,000 tonnes from 497,000 tonnes.
For the six months ended June 30, the group’s net profit grew 16.56% to RM127.95 million from RM109.78 million in the same period in FY2023, despite a 1.96% dip in revenue to RM1.36 billion from RM1.39 billion.
Genting Plantations said its outlook for the rest of the year will track the performance of its mainstay plantation segment, which is in turn dependent on the price movements of palm products and FFB production.
“Moving into the third quarter of 2024, palm oil prices eased slightly due to strengthening of the ringgit against the US Dollar. Nevertheless, palm oil prices are expected to remain supported in the short term with the anticipated tightening of global palm oil supply, following weaker production prospects,” it added.
Barring any unexpected weather condition, the group anticipates its FFB production in the second half of 2024 (2H2024) to exceed its first half. Despite the expected crop recovery, full-year production is projected to be similar to or slightly lower than the previous year, Genting Plantations said.
As for its property segment, Genting Plantations said it will continue to focus on diversity in its offerings to cater to the broader market.
“The Premium Outlets is also continuously improving its tenant portfolio to elevate clientele experience and satisfaction along with value-enhancing additions such as the Jakarta Premium Outlets, which is at an advanced stage of construction,” it said.
Outlook for its downstream manufacturing segment, however, is expected to remain challenging, given the continuing stiff competition from its Indonesian counterparts and the restrictive demand for palm-based biodiesel in export markets.
Shares of Genting Plantations closed eight sen or 1.04% lower to RM5.62 on Wednesday, valuing the group at RM5.04 billion.
https://theedgemalaysia.com/node/724710
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Re: Beleggen in Palmolie
India's palm oil imports plunge as buyers shift to soyoil
MUMBAI (Sept 12): India's palm oil imports in August fell more than a quarter from a month ago, primarily driven by sufficient domestic stocks and negative margins that discouraged refiners from purchasing more of the tropical oil, a leading trade body said on Thursday.
Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures FCPOc3.
India's palm oil imports fell 26% in August from July to 797,482 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.
Imports of soyoil rose 16% to 454,639 tonnes, while sunflower oil imports fell 22.5% to 284,108 tonnes, it said.
The drop in imports of palm and sunflower oils brought down the country's total edible oil imports by 17% to 1.53 million tonnes.
"Refiners are shifting to soyoil from palm oil, as palm oil has become more expensive for Indian buyers in comparison to soyoil," said a New-Delhi based dealer with a global trade house.
Palm oil typically trades at a discount to soft oils, but it is currently being offered at a premium of US$40 (RM173.14) per tonne over rival soyoil for September shipments, according to SEA.
Palm oil imports also fell in August due to excessive buying in July, which led to a stock buildup with refiners, the dealer said.
Despite lower imports in August, vegetable oil stocks in the country rose to 2.93 million tonnes on Sept 1, the highest in nine months, the trade body said.
In September, India's edible oil imports could fall because of lower buying of soyoil and sunflower oil, said Rajesh Patel, managing partner at edible oil trader and broker GGN Research.
"Palm oil imports could rise marginally to above 800,000 tonnes," he said.
India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
Uploaded by Felyx Teoh
https://theedgemalaysia.com/node/726527
MUMBAI (Sept 12): India's palm oil imports in August fell more than a quarter from a month ago, primarily driven by sufficient domestic stocks and negative margins that discouraged refiners from purchasing more of the tropical oil, a leading trade body said on Thursday.
Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures FCPOc3.
India's palm oil imports fell 26% in August from July to 797,482 tonnes, the Solvent Extractors' Association of India (SEA) said in a statement.
Imports of soyoil rose 16% to 454,639 tonnes, while sunflower oil imports fell 22.5% to 284,108 tonnes, it said.
The drop in imports of palm and sunflower oils brought down the country's total edible oil imports by 17% to 1.53 million tonnes.
"Refiners are shifting to soyoil from palm oil, as palm oil has become more expensive for Indian buyers in comparison to soyoil," said a New-Delhi based dealer with a global trade house.
Palm oil typically trades at a discount to soft oils, but it is currently being offered at a premium of US$40 (RM173.14) per tonne over rival soyoil for September shipments, according to SEA.
Palm oil imports also fell in August due to excessive buying in July, which led to a stock buildup with refiners, the dealer said.
Despite lower imports in August, vegetable oil stocks in the country rose to 2.93 million tonnes on Sept 1, the highest in nine months, the trade body said.
In September, India's edible oil imports could fall because of lower buying of soyoil and sunflower oil, said Rajesh Patel, managing partner at edible oil trader and broker GGN Research.
"Palm oil imports could rise marginally to above 800,000 tonnes," he said.
India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
Uploaded by Felyx Teoh
https://theedgemalaysia.com/node/726527
- nobody
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Re: Beleggen in Palmolie
India hikes import tax on palm oil, other edible oils by 20% to help oilseed farmers there
NEW DELHI (Sept 14): India has hiked the import tax on palm oil and other edible oils by 20%, a move seen as helping local oilseed farmers.
The tax increase is effective from Saturday, according to a government notification on Friday.
The basic customs duty on crude palm oil (CPO), soybean oil and sunflower oil has been increased from zero to 20%, and from 12.5% to 32.5% for refined products.
Together with India's agriculture infrastructure and development cess and social welfare surcharge, the effective rate of import duty on crude oils will go up from 5.5% to 27.5%, and from 13.75% to 35.75% for refined oils.
An Indian trade group had sought an import duty hike on edible oils to support "remunerative prices" for local oilseed farmers.
Facing pressure from farmers in the soybean-producing states of Maharashtra, Karnataka and Madhya Pradesh, the federal government earlier approved soybean procurement at the state-fixed minimum support price of 4,892 rupees (US$58.30 or RM250.88) per quintal (100kg). Wholesale prices of soybean had fallen between 3,200 and 3,700 rupees in August, according to reports.
India is the world's top importer and second largest consumer of edible oils.
In its fiscal year of 2022-23 (April-March), India imported 16.5 million tonnes of edible oils, with domestic production providing only 40% to 45% of the country's total requirements. Its consumption of oils and fats was about 27.2 million tonnes in 2023, and the share of palm oil in it was 36%.
India imported 2.83 million tonnes of palm oil from Malaysia in 2023, accounting for 18% of total Malaysian palm oil exports. Its other palm oil suppliers are Indonesia and Thailand.
India imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
India's palm oil imports from Malaysia in August totalled 321,952 tonnes, including 305,122 tonnes of CPO and 14,800 tonnes of refined, bleached and deodorised (RBD) palm olein, according to industry data.
Palm oil's share in the country's total vegetable oil imports of 1.53 million tonnes last month was 52%.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726800
NEW DELHI (Sept 14): India has hiked the import tax on palm oil and other edible oils by 20%, a move seen as helping local oilseed farmers.
The tax increase is effective from Saturday, according to a government notification on Friday.
The basic customs duty on crude palm oil (CPO), soybean oil and sunflower oil has been increased from zero to 20%, and from 12.5% to 32.5% for refined products.
Together with India's agriculture infrastructure and development cess and social welfare surcharge, the effective rate of import duty on crude oils will go up from 5.5% to 27.5%, and from 13.75% to 35.75% for refined oils.
An Indian trade group had sought an import duty hike on edible oils to support "remunerative prices" for local oilseed farmers.
Facing pressure from farmers in the soybean-producing states of Maharashtra, Karnataka and Madhya Pradesh, the federal government earlier approved soybean procurement at the state-fixed minimum support price of 4,892 rupees (US$58.30 or RM250.88) per quintal (100kg). Wholesale prices of soybean had fallen between 3,200 and 3,700 rupees in August, according to reports.
India is the world's top importer and second largest consumer of edible oils.
In its fiscal year of 2022-23 (April-March), India imported 16.5 million tonnes of edible oils, with domestic production providing only 40% to 45% of the country's total requirements. Its consumption of oils and fats was about 27.2 million tonnes in 2023, and the share of palm oil in it was 36%.
India imported 2.83 million tonnes of palm oil from Malaysia in 2023, accounting for 18% of total Malaysian palm oil exports. Its other palm oil suppliers are Indonesia and Thailand.
India imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
India's palm oil imports from Malaysia in August totalled 321,952 tonnes, including 305,122 tonnes of CPO and 14,800 tonnes of refined, bleached and deodorised (RBD) palm olein, according to industry data.
Palm oil's share in the country's total vegetable oil imports of 1.53 million tonnes last month was 52%.
Uploaded by Tham Yek Lee
https://theedgemalaysia.com/node/726800
- nobody
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Re: Beleggen in Palmolie
MPOB achieves 70% mapping of oil palm smallholders in nationwide plantation coverage project
KUALA LUMPUR (Sept 16): The Malaysian Palm Oil Board (MPOB) has successfully mapped around 70% of independent smallholders, as part of its project to chart oil palm plantation coverage across the country.
MPOB director general Datuk Ahmad Parveez Ghulam Kadir noted that the data, accessible via the MPOB GeoPALM Portal, includes 85% of organised smallholders and 88% of estates in Peninsular Malaysia.
By leveraging remote sensing technology and geographic information systems (GIS), he said the MPOB is able to monitor plantations nationwide, providing valuable insights for the industry.
“The mapping project, done in collaboration with the Malaysian Space Agency (MYSA), has covered most areas, with Sabah's update expected by year-end,” he told Bernama.
In line with the EU Deforestation Regulation (EUDR), Ahmad Parveez said the MPOB has developed geolocation and polygon data for licensed oil palm growers, a key requirement for accessing the EU market.
“This effort involved close collaboration with geospatial data agencies, such as the Department of Survey and Mapping Malaysia (Jupem), the Sabah Lands and Surveys Department (JTU), and the Land and Survey Department Sarawak (Landas), to ensure accuracy and reliability of the geolocation data and polygon maps generated for plantations,” he explained.
The MPOB’s GeoPALM Portal has been showcased at several international forums, including the Roundtable for Smallholder Inclusion for EUDR Requirements, and the 1st Focus Group Discussion on EUDR Compliance.
Ahmad Parveez also highlighted that efforts are being intensified in collaboration with the state governments of Sabah and Sarawak, to ensure that all oil palm growers in these regions meet the stringent standards of the EUDR.
He noted that stakeholders and smallholders have responded positively to the geo-mapping initiative, stating, "MPOB greatly appreciates the continued interest and support from all stakeholders and looks forward to providing further updates, as they become available".
MPOB is spearheading the project to map oil palm plantation coverage, in line with the National Agri-Commodity Policy (DAKN 2030).
Key objectives include capping the national oil palm planted area at 6.5 million hectares, banning new planting, tightening regulations on existing oil palm on peatlands, restricting the conversion of Permanent Forest Reserve (PRF) for agricultural activities, and making official plantation maps publicly accessible.
Ahmad Parveez pointed out that Indonesia is preparing for EUDR compliance by developing a National Dashboard for Sustainable Commodity Data.
This initiative aims to improve the traceability of key commodities, such as palm oil, to align with EUDR standards.
He emphasised the collaborative efforts between Indonesia and Malaysia through the Joint Task Force, underscoring a unified regional approach to effectively address the challenges posed by the EUDR.
Uploaded by Liza Shireen Koshy
https://theedgemalaysia.com/node/726856
KUALA LUMPUR (Sept 16): The Malaysian Palm Oil Board (MPOB) has successfully mapped around 70% of independent smallholders, as part of its project to chart oil palm plantation coverage across the country.
MPOB director general Datuk Ahmad Parveez Ghulam Kadir noted that the data, accessible via the MPOB GeoPALM Portal, includes 85% of organised smallholders and 88% of estates in Peninsular Malaysia.
By leveraging remote sensing technology and geographic information systems (GIS), he said the MPOB is able to monitor plantations nationwide, providing valuable insights for the industry.
“The mapping project, done in collaboration with the Malaysian Space Agency (MYSA), has covered most areas, with Sabah's update expected by year-end,” he told Bernama.
In line with the EU Deforestation Regulation (EUDR), Ahmad Parveez said the MPOB has developed geolocation and polygon data for licensed oil palm growers, a key requirement for accessing the EU market.
“This effort involved close collaboration with geospatial data agencies, such as the Department of Survey and Mapping Malaysia (Jupem), the Sabah Lands and Surveys Department (JTU), and the Land and Survey Department Sarawak (Landas), to ensure accuracy and reliability of the geolocation data and polygon maps generated for plantations,” he explained.
The MPOB’s GeoPALM Portal has been showcased at several international forums, including the Roundtable for Smallholder Inclusion for EUDR Requirements, and the 1st Focus Group Discussion on EUDR Compliance.
Ahmad Parveez also highlighted that efforts are being intensified in collaboration with the state governments of Sabah and Sarawak, to ensure that all oil palm growers in these regions meet the stringent standards of the EUDR.
He noted that stakeholders and smallholders have responded positively to the geo-mapping initiative, stating, "MPOB greatly appreciates the continued interest and support from all stakeholders and looks forward to providing further updates, as they become available".
MPOB is spearheading the project to map oil palm plantation coverage, in line with the National Agri-Commodity Policy (DAKN 2030).
Key objectives include capping the national oil palm planted area at 6.5 million hectares, banning new planting, tightening regulations on existing oil palm on peatlands, restricting the conversion of Permanent Forest Reserve (PRF) for agricultural activities, and making official plantation maps publicly accessible.
Ahmad Parveez pointed out that Indonesia is preparing for EUDR compliance by developing a National Dashboard for Sustainable Commodity Data.
This initiative aims to improve the traceability of key commodities, such as palm oil, to align with EUDR standards.
He emphasised the collaborative efforts between Indonesia and Malaysia through the Joint Task Force, underscoring a unified regional approach to effectively address the challenges posed by the EUDR.
Uploaded by Liza Shireen Koshy
https://theedgemalaysia.com/node/726856
- nobody
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Re: Beleggen in Palmolie
MP Evans reports strong first half, extends share buyback
Indonesian palm oil producer MP Evans announced a strong set of unaudited interim results for the six months ended 30 June on Monday, with increases in production, profitability and dividends.
The AIM-traded firm said the total crop processed by the group rose 5% to 759,700 tonnes, up from 721,100 tonnes in the same period last year.
It said that increase in raw material led to a 6% boost in the production of crude palm oil (CPO), totaling 177,000 tonnes compared to 166,200 tonnes in 2023.
The mill-gate price of CPO saw a modest 2% increase to $771 per tonne, up from $755 per tonne previously.
Certified sustainable production experienced 24% growth, reaching 119,500 tonnes from 96,500 tonnes last year.
Additionally, the cost of palm products decreased 14% to $458 per tonne, down from $535 per tonne, reflecting improved operational efficiencies.
Financially, MP Evans reported a 78% surge in operating profit to $41.6m, up from $23.4m in the prior year.
Earnings per share increased 81% to 44.9p, compared to 24.8p in 2023.
In line with its strong performance, the company declared a 20% increase in its interim dividend, raising it to 15p per share from 12.5p last year.
The group's net debt stood at $7.3m, resulting in a low net gearing of 1%, compared to a net cash position of $2.5m at the end of 2023.
In a separate announcement, MP Evans extended its share buyback programme, which had expired on 14 September.
The renewed programme has a budget of £2m and would run until 16 December.
All shares repurchased would be cancelled in a bid to enhance earnings per share and provide value to shareholders.
The board said it believed the company's shares were currently undervalued, noting that the enterprise value was below the independent valuation of its assets.
The robust balance sheet would enable MP Evans to repurchase shares at advantageous levels, capitalising on market conditions.
It said the buyback would operate under the authority granted at its annual general meeting held on 14 June.
Share purchases would adhere to regulatory limits, not exceeding 25% of the average daily trading volume over the prior 20 trading days.
To implement the programme, MP Evans said it had engaged Cavendish Capital Markets to independently conduct on-market purchases of its 10p shares.
The board said it would monitor the progress of the buyback and would decide in due course whether to extend it further.
“Following higher production and higher palm-oil prices, the board is delighted to report a significantly improved first-half profit, and a 20% increase in the interim dividend,” said chairman Peter Hadsley-Chaplin.
“The second half of the year has, thus far, seen palm-oil prices strengthen further and, accordingly, the group is well placed for another strong result for 2024 as a whole.”
At 1045 BST, shares in MP Evans Group were up 4.8% at 895p.
Reporting by Josh White for Sharecast.com.
https://www.sharecast.com/news/aim-bull ... 03285.html
Indonesian palm oil producer MP Evans announced a strong set of unaudited interim results for the six months ended 30 June on Monday, with increases in production, profitability and dividends.
The AIM-traded firm said the total crop processed by the group rose 5% to 759,700 tonnes, up from 721,100 tonnes in the same period last year.
It said that increase in raw material led to a 6% boost in the production of crude palm oil (CPO), totaling 177,000 tonnes compared to 166,200 tonnes in 2023.
The mill-gate price of CPO saw a modest 2% increase to $771 per tonne, up from $755 per tonne previously.
Certified sustainable production experienced 24% growth, reaching 119,500 tonnes from 96,500 tonnes last year.
Additionally, the cost of palm products decreased 14% to $458 per tonne, down from $535 per tonne, reflecting improved operational efficiencies.
Financially, MP Evans reported a 78% surge in operating profit to $41.6m, up from $23.4m in the prior year.
Earnings per share increased 81% to 44.9p, compared to 24.8p in 2023.
In line with its strong performance, the company declared a 20% increase in its interim dividend, raising it to 15p per share from 12.5p last year.
The group's net debt stood at $7.3m, resulting in a low net gearing of 1%, compared to a net cash position of $2.5m at the end of 2023.
In a separate announcement, MP Evans extended its share buyback programme, which had expired on 14 September.
The renewed programme has a budget of £2m and would run until 16 December.
All shares repurchased would be cancelled in a bid to enhance earnings per share and provide value to shareholders.
The board said it believed the company's shares were currently undervalued, noting that the enterprise value was below the independent valuation of its assets.
The robust balance sheet would enable MP Evans to repurchase shares at advantageous levels, capitalising on market conditions.
It said the buyback would operate under the authority granted at its annual general meeting held on 14 June.
Share purchases would adhere to regulatory limits, not exceeding 25% of the average daily trading volume over the prior 20 trading days.
To implement the programme, MP Evans said it had engaged Cavendish Capital Markets to independently conduct on-market purchases of its 10p shares.
The board said it would monitor the progress of the buyback and would decide in due course whether to extend it further.
“Following higher production and higher palm-oil prices, the board is delighted to report a significantly improved first-half profit, and a 20% increase in the interim dividend,” said chairman Peter Hadsley-Chaplin.
“The second half of the year has, thus far, seen palm-oil prices strengthen further and, accordingly, the group is well placed for another strong result for 2024 as a whole.”
At 1045 BST, shares in MP Evans Group were up 4.8% at 895p.
Reporting by Josh White for Sharecast.com.
https://www.sharecast.com/news/aim-bull ... 03285.html
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Re: Beleggen in Palmolie
Indonesia issues new palm oil levies rule to boost competitiveness
JAKARTA (Sept 19): The world's biggest palm oil exporter Indonesia will introduce a new set of monthly levies in a bid to improve competitiveness against rival edible oils, a regulation published on Thursday by its finance ministry showed.
Under the new rules, which take effect on Saturday, levies for crude palm oil exports will be set at a 7.5% rate of the reference price set periodically by the government.
The more refined palm oil products will be charged lower levy rates, at between 3% and 6% of the reference rates, the document showed.
Indonesia currently imposes a levy of between US$55 and US$240 per metric tonne for crude palm oil exports, depending on a set of price brackets for the monthly reference price.
"Certainly this will make Indonesian origin more competitive especially in October. Malaysian origin need to get lower in order to compete," said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.
Malaysia is the world's second largest palm oil exporter.
Indonesia made changes to "improve palm oil competitiveness and provide added value to farmers' fresh fruit bunches", the finance ministry decree said.
A government official has previously said that the changes were necessary to compete with rivals such as soyoil and sunflower oils, against which palm is losing its competitive edge.
The levies are collected to help finance palm oil programmes such as a replanting subsidy for smallholders and for the country's biodiesel programme.
Uploaded by Magessan Varatharaja
https://theedgemalaysia.com/node/727260
JAKARTA (Sept 19): The world's biggest palm oil exporter Indonesia will introduce a new set of monthly levies in a bid to improve competitiveness against rival edible oils, a regulation published on Thursday by its finance ministry showed.
Under the new rules, which take effect on Saturday, levies for crude palm oil exports will be set at a 7.5% rate of the reference price set periodically by the government.
The more refined palm oil products will be charged lower levy rates, at between 3% and 6% of the reference rates, the document showed.
Indonesia currently imposes a levy of between US$55 and US$240 per metric tonne for crude palm oil exports, depending on a set of price brackets for the monthly reference price.
"Certainly this will make Indonesian origin more competitive especially in October. Malaysian origin need to get lower in order to compete," said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari.
Malaysia is the world's second largest palm oil exporter.
Indonesia made changes to "improve palm oil competitiveness and provide added value to farmers' fresh fruit bunches", the finance ministry decree said.
A government official has previously said that the changes were necessary to compete with rivals such as soyoil and sunflower oils, against which palm is losing its competitive edge.
The levies are collected to help finance palm oil programmes such as a replanting subsidy for smallholders and for the country's biodiesel programme.
Uploaded by Magessan Varatharaja
https://theedgemalaysia.com/node/727260
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Re: Beleggen in Palmolie
World’s most popular vegetable oil is no longer the cheapest
(Sept 26): Palm oil has lost its position as the world’s cheapest edible oil, thanks to shrinking output in the biggest growers and plentiful supply of the main alternative.
The tropical oil, which traded at a discount of US$782 (RM3,229) a ton to soyoil as recently as November 2022, is currently commanding a rare premium. In contrast to soy, sunflower and rapeseed crops, palm is harvested year-round and needs less land to produce, meaning it’s usually cheaper.
Indonesian and Malaysian palm plantations, which account for 85% of global supply, are facing challenges. Smallholders are reluctant to cut ageing trees and replant as it can take four to five years for new trees to bear fruit, compared with around six months for soybeans.
Palm prices have risen 10% this year, while soybean oil is down about 9% on better crop prospects in countries such as the US. Still, a structural shift is unlikely in the near to medium term because of palm’s unique qualities that make it attractive to many sectors.
Key users such as cookie makers, restaurants and hotels in India are unlikely to look for substitutes immediately, even as some household consumption of palm oil may shift to its rivals, said Aashish Acharya, a vice president with Patanjali Foods Ltd, one of the nation’s top edible oil importers. Indonesia’s biodiesel demand will also keep palm prices supported, he said.
The ubiquitous commodity is found in everything from pizza and ice cream to shampoo and lipstick. Animal feed producers also use it as an ingredient, while some countries process palm into biofuels.
The palm oil market may adjust once seasonal supply and demand factors kick in. Palm consumption typically drops in December and January in India, the biggest importer, as it solidifies at lower temperatures, prompting consumers to seek alternatives.
“Once festival demand in India fades and palm’s high production season in Southeast Asia gathers momentum, the premium could evaporate,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental. “If that doesn’t happen, palm would lose its huge market share to soy and sunflower oils in India.”
Uploaded by Chng Shear Lane
https://theedgemalaysia.com/node/728070
(Sept 26): Palm oil has lost its position as the world’s cheapest edible oil, thanks to shrinking output in the biggest growers and plentiful supply of the main alternative.
The tropical oil, which traded at a discount of US$782 (RM3,229) a ton to soyoil as recently as November 2022, is currently commanding a rare premium. In contrast to soy, sunflower and rapeseed crops, palm is harvested year-round and needs less land to produce, meaning it’s usually cheaper.
Indonesian and Malaysian palm plantations, which account for 85% of global supply, are facing challenges. Smallholders are reluctant to cut ageing trees and replant as it can take four to five years for new trees to bear fruit, compared with around six months for soybeans.
Palm prices have risen 10% this year, while soybean oil is down about 9% on better crop prospects in countries such as the US. Still, a structural shift is unlikely in the near to medium term because of palm’s unique qualities that make it attractive to many sectors.
Key users such as cookie makers, restaurants and hotels in India are unlikely to look for substitutes immediately, even as some household consumption of palm oil may shift to its rivals, said Aashish Acharya, a vice president with Patanjali Foods Ltd, one of the nation’s top edible oil importers. Indonesia’s biodiesel demand will also keep palm prices supported, he said.
The ubiquitous commodity is found in everything from pizza and ice cream to shampoo and lipstick. Animal feed producers also use it as an ingredient, while some countries process palm into biofuels.
The palm oil market may adjust once seasonal supply and demand factors kick in. Palm consumption typically drops in December and January in India, the biggest importer, as it solidifies at lower temperatures, prompting consumers to seek alternatives.
“Once festival demand in India fades and palm’s high production season in Southeast Asia gathers momentum, the premium could evaporate,” said Gnanasekar Thiagarajan, head of trading and hedging strategies at Kaleesuwari Intercontinental. “If that doesn’t happen, palm would lose its huge market share to soy and sunflower oils in India.”
Uploaded by Chng Shear Lane
https://theedgemalaysia.com/node/728070
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Re: Beleggen in Palmolie
India's September palm oil imports hit six-month low on price rise, dealers say
MUMBAI (Oct 3): India's palm oil imports in September fell by nearly a third compared to the previous month, hitting a six-month low as a surge in tropical oil prices made it more expensive than rival oils, forcing refiners to postpone purchases, five dealers said.
Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures.
Palm oil imports fell 34% in September from the previous month to 530,000 metric tonnes, according to estimates from dealers.
"Palm oil became more expensive than soybean oil and sunflower oil last month. Simultaneously, India increased import duties, prompting some refiners to cancel contracts," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.
Palm oil typically trades at a discount to soft oils, but it is currently being offered at a premium over the soft oils for October shipments.
In mid-September, India raised the basic import tax on crude and refined edible oils by 20 percentage points.
Soyoil imports in September fell 15% from a month ago to 388,000 metric tonnes, while sunflower oil imports plunged 49% to 145,000 metric tonnes, the lowest in 10 months, dealers said.
The drop in imports of palm oil, soyoil and sunflower oil brought down the country's total edible oil imports by 31% to 1.06 million tonnes, as per dealers' estimates.
India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
Industry body the Solvent Extractors' Association of India (SEA) is likely to publish its data on September imports by mid-October.
"Palm oil imports are likely to improve in October because of festive season. We could see shipments of more than 750,000 tonnes," said a Mumbai-based dealer with a global trade house.
Uploaded by Magessan Varatharaja
https://theedgemalaysia.com/node/728932
MUMBAI (Oct 3): India's palm oil imports in September fell by nearly a third compared to the previous month, hitting a six-month low as a surge in tropical oil prices made it more expensive than rival oils, forcing refiners to postpone purchases, five dealers said.
Lower purchases by the world's biggest importer of vegetable oils could lead to higher stocks of palm oil in key producers Indonesia and Malaysia, weighing on benchmark futures.
Palm oil imports fell 34% in September from the previous month to 530,000 metric tonnes, according to estimates from dealers.
"Palm oil became more expensive than soybean oil and sunflower oil last month. Simultaneously, India increased import duties, prompting some refiners to cancel contracts," said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.
Palm oil typically trades at a discount to soft oils, but it is currently being offered at a premium over the soft oils for October shipments.
In mid-September, India raised the basic import tax on crude and refined edible oils by 20 percentage points.
Soyoil imports in September fell 15% from a month ago to 388,000 metric tonnes, while sunflower oil imports plunged 49% to 145,000 metric tonnes, the lowest in 10 months, dealers said.
The drop in imports of palm oil, soyoil and sunflower oil brought down the country's total edible oil imports by 31% to 1.06 million tonnes, as per dealers' estimates.
India buys palm oil mainly from Indonesia, Malaysia and Thailand, while it imports soyoil and sunflower oil from Argentina, Brazil, Russia and Ukraine.
Industry body the Solvent Extractors' Association of India (SEA) is likely to publish its data on September imports by mid-October.
"Palm oil imports are likely to improve in October because of festive season. We could see shipments of more than 750,000 tonnes," said a Mumbai-based dealer with a global trade house.
Uploaded by Magessan Varatharaja
https://theedgemalaysia.com/node/728932
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