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AGRICOMMODITY NEWS 2020

KUALA LUMPUR, July 30 -- The Malaysian Palm Oil Council (MPOC) has developed “BizMatch”, a new online match-making platform, connecting businesses from across Europe with Malaysian palm oil supply entities.
In an advertisement posted on the MPOC website, it said BizMatch is a one-stop centre for those who have decided to tackle adversity head-on and seize the opportunities that presented themselves despite or in some cases even because of COVID-19.

KUALA LUMPUR: The Ministry of Plantation Industries and Commodities (MPIC) expects additional exports of 300,000 metric tonnes of processed palm oil to Greece and Balkan markets through Turkey.

Deputy Minister I Willie Mongin said this would make Turkey as the export hub for the markets.

He said the ministry has undertaken various promotional activities via the Malaysian Palm Oil Council (MPOC) and Malaysian Palm Oil Board (MPOB) to improve the marketability of palm oil products to foreign countries.

KUALA LUMPUR (July 22): The palm oil industry may see a full recovery in the fourth quarter of this year (4Q20) if the Covid-19 pandemic is manageable and contained, the Council of Palm Oil Producing Countries (CPOPC) said.
The council also believed that there is a possibility of a rebound in the market given the ultra-loose monetary policies of many central bankers and the government’s stimulus package.

KUALA LUMPUR: Crude palm oil (CPO) prices will likely average RM2,573 a tonne, with the potential to reach a high of RM2,944 a tonne, this year, said Malaysian Palm Oil Council (MPOC) chief executive officer Datuk Dr Kalyana Sundram.
“Our output projection for 2020 is 19.6 million tonnes, while global stock usage ratio is 14.68 per cent. As a result of this higher demand and uptrend in prices recently, we are bullish on the ‘high’ that the commodity can reach in 2020.

KUALA LUMPUR, July 23 -- Malaysian palm oil exporters should take advantage of market opportunities in Romania, with its declining sunflower seed production, increasing oil and fat consumption and lack of adequate storage facilities, says the Malaysian Palm Oil Council (MPOC).
Romania produces more than 700,000 metric tonnes (MT) of oils and fats annually, with sunflower oil comprising 65 per cent or 500,000 MT of total production. The country is the largest producer of sunflower seeds in the European Union.
However, production of sunflower seeds in the country is forecast to decline by 13 per cent in 2020/21 due to lower profit margins and crop rotation, compared with an expansion of 26 per cent in 2019/20, said MPOC.