말레이시아 열대성 인사이트

Malaysian palm oil futures declined for a second session on Wednesday, dragged down by the weakness in prices of rival vegetable oils in Dalian and Chicago. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange lost 158 ringgit, or 3.14%, to 4,868 ringgit ($1,095.66) a metric ton as of 0234

Malaysian palm oil futures closed down for a second session in a row on Wednesday, dragged down by the heavy losses in prices of rival vegetable oils in Dalian. The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange lost 42 ringgit, or 0.84%, to 4,984 ringgit ($1,121.01) a metric ton on the closing. “Prices have sharply declined below the 5,000 ringgit level, exacerbated by weakness in the Chinese-related vegetable oils market. This suggests a consolidation following the recent bull run from Sept. 18 to Nov. 11,” said Darren Lim, commodities strategist at Singapore-based brokerage Phillip Nova. Dalian’s most-active soyoil contract DBYcv1 plunged 5.17%, while its palm oil contract DCPcv1 tumbled 4.45%. Soyoil prices on the Chicago Board of Trade BOcv1 were down 0.5%. Palm oil tracks the price movements of rival edible oils as it competes for a share in the global vegetable oils market.

This article first appeared in The Edge Malaysia Weekly on November 4, 2024 - November 10, 2024 AMONG the surprises sprung by Budget 2025 were the silence on the previously planned high value goods tax (HVGT) on luxury goods and that avocado and salmon would be among “non-essential items” and “imported premium goods” taxed under the expanded sales and service tax (SST) from May 1, 2025. Treasury Secretary-General Datuk Johan Mahmood Merican said something akin to an open-ended reply when asked why the government had chosen to tax avocado and salmon but not jewellery and handbags. Does that mean luxury goods can still be part of the expanded SST, given that only “basic food items consumed by the rakyat” have been exempted from the sales tax expansion? “I’m in a situation where I can neither confirm nor deny [the statement],” Johan tells The Edge. “As part of the expansion of sales tax, we are definitely not imposing it on basic goods, but we’re certainly still reviewing areas that ...