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Mei Mei Chu

Malaysia palm growers warn new Sabah virus restrictions could halve output

23 Oct 2020

KUALA LUMPUR Malaysia's biggest palm oil producing state Sabah could see crude palm oil production fall by as much as 300,000 tonnes a month after imposing new coronavirus restrictions in the high crop season, the Malaysian Estate Owners' Association (MEOA) told Reuters on Friday.

REFILE-Malaysia palm growers warn new Sabah virus restrictions could halve output

23 Oct 2020

KUALA LUMPUR, Oct 23 Malaysia's biggest palm oil producing state Sabah could see crude palm oil production fall by as much as 300,000 tonnes a month after imposing new coronavirus restrictions in the high crop season, the Malaysian Estate Owners' Association (MEOA) told Reuters on Friday.

UPDATE 1-Malaysia's Petronas Gas says $410 mln sukuk issue oversubscribed by 3 times

23 Oct 2020

KUALA LUMPUR, Oct 23 Malaysia's Petronas Gas said on Friday its subsidiary Pengerang LNG (Two) Sdn Bhd had concluded a 1.7 billion ringgit ($410.23 million issue of a 20-year multi-tranche Sukuk Murabahah that was oversubscribed by three times.

Malaysia says allegations of forced labour in palm plantations is "old issue"

22 Oct 2020

KUALA LUMPUR Malaysia said on Thursday it viewed U.S. allegations of forced labour in palm oil plantations as an "old issue" but it was willing to take appropriate action if needed.

Malaysia says allegations of forced labour in palm plantations is "old issue"

22 Oct 2020

KUALA LUMPUR, Oct 22 Malaysia said on Thursday it viewed U.S. allegations of forced labour in palm oil plantations as an "old issue" but it was willing to take appropriate action if needed.

China warns Asian countries to be vigilant on U.S strategy

13 Oct 2020

KUALA LUMPUR The Chinese government's top diplomat, State Councillor Wang Yi, on Tuesday urged Asian countries to remain "vigilant" over the risk of U.S. strategy stoking geopolitical competition in the South China Sea and other parts of the region.

UPDATE 1-Malaysia end-Sept palm oil stocks up 1.2%, output rise lower-than-expected

12 Oct 2020

* Stockpile remains tight with only 1.24% monthly rise * Rise in output, exports smaller than expected -analyst * Production on a declining trend for Q4 2020 -brokers (Adds details, quotes, table) By Mei Mei Chu KUALA LUMPUR, Oct 12 Malaysia's end-September palm oil stockpile expanded 1.24% from the previous month to a three-month high, as a surprisingly small advancement in output and exports squeezed supply, according to industry regulator data on Monday. Inventories in the world's second-largest producer rose to 1.73 million tonnes, the Malaysian Palm Oil Board (MPOB) said. Exports rose only 1.88% on-month to 1.61 million tonnes, according to MPOB data, much lower than cargo surveyors' estimates and a Reuters poll flagging a jump of between 6% to 11%. "The first surprise is export is surprisingly low ... Production is also lower than widely expected but stocks continue to be tight," said Sathia Varqa, co-founder of Singapore-based Palm Oil Analytics. Crude palm oil production also hit a three-month high, despite inching up only 0.32% from August to 1.87 million tonnes. Production may have already peaked in June and will continue to decline in the fourth quarter of the year, said Marcello Cultrera, institutional sales manager and broker at Phillip Futures in Kuala Lumpur. "We might get tighter on a supply basis," he added. Palm and other vegetable oils are facing a "very bullish scenario" as traders are mindful of the La Nina weather pattern hurting yields, said Paramalingam Supramaniam, director at Selangor-based brokerage Pelindung Bestari Sdn Bhd. "This bullish scenario in palm will continue unabated at least until the first quarter of 2021," he added. Following is a breakdown of the Malaysian Palm Oil Board figures and Reuters estimates for September (volumes in tonnes): Sept 2020 Sept 2020 poll Aug 2020* Sept 2019 Output 1,869,339 1,953,350 1,863,309 1,842,433 Stocks 1,725,120 1,720,666 1,704,060 2,448,484 Exports 1,612,169 1,679,500 1,582,359 1,409,089 Imports 48,273 37,500 32,311 71,112 *indicates revised figures by the Malaysian Palm Oil Board (Reporting by Mei Mei Chu; Editing by Jacqueline Wong)

AFC moves all East Asia Champions League games to Qatar

09 Oct 2020

KUALA LUMPUR The Asian Football Confederation (AFC) on Friday said it has moved all remaining Asian Champions League games for East zone sides to Qatar from Malaysia due to the COVID-19 pandemic.

UPDATE 4-Soccer-AFC moves all East Asia Champions League games to Qatar

09 Oct 2020

KUALA LUMPUR, Oct 9 The Asian Football Confederation (AFC) on Friday said it has moved all remaining Asian Champions League games for East zone sides to Qatar from Malaysia due to the COVID-19 pandemic.

RPT-Palm oil prices to rally in first half of 2021, say top analysts

09 Oct 2020

KUALA LUMPUR/ MUMBAI, Oct 8 Palm oil prices are likely to jump in the first half of 2021, three leading industry analysts said in a webinar on Thursday, as La Nina weather pattern is set to hit edible oil supplies amid lower soybean crushing in Argentina and rising sunflower oil prices.

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