Archived News

17/10/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures closed down on Thursday after rising in the previous session, weighed down by mixed trading in rival oils.

17/10/2024 (Borneo Post), Kuching - Palm oil industry players and the Sarawak government are intensifying their commitment to balance industrial progress with ecological responsibility, ensuring the palm oil industry continues to thrive in a sustainable manner, said Sarawak Oil Palm Plantation Owners Association (Soppoa).

18/10/2024 (Prothomalo) - The government on Thursday reduced the Value Added Tax (VAT) on import of soybean and palm oil to 10 per cent from existing 15 per cent.

17/10/2024 (Global New Light Myanmar) - The wholesale reference rate of palm oil for the Yangon market declined a bit to K6,355 per viss this week ending 20 October, down from K6,455 of last week ending 13 October, according to the Supervisory Committee on edible oil import and distribution.

17/10/2024 (Reuters) -ICE canola futures closed up on Thursday on spillover strength from higher U.S. soybean oil prices.

16/10/2024 (Reuters), Kuala Lumpur - Malaysia has maintained its November export tax for crude palm oil at 8%, and raised its reference price, a circular on the Malaysian Palm Oil Board (MPOB) website showed on Wednesday.

16/10/2024 (New Straits Times), Kuala Lumpur - The government has approved RM52.9 million in funds under the Smallholder Palm Oil Replanting Financing Incentive Scheme (TSPKS2.0), involving 1,165 palm oil smallholders and 3,378ha as of Oct 14.

16/10/2024 (The Western Producer) - The Canadian grain and oilseed sector continues to have an overreliance on Chinese exports, which was illustrated by the Canadian Grain Commission’s August report on exports of Canadian grain and wheat flour.

16/10/2024 (Chemanalyst) - Fatty Acid prices in both China and the US witnessed an upward trend in September. The rise in Fatty Acid prices was primarily attributed to the growing demand for palm oil in the global market.

16/10/2024 (Reuters), Kuala Lumpur - Malaysian palm oil futures opened higher on Wednesday, bouncing back after two consecutive sessions of declines, on the strength of rival oils and crude oil prices.

15/10/2024 (Business Today) - Malaysia’s palm oil production reached its peak in August this year, two months earlier than in the past three years, which peaked in October. Palm oil production in September declined 3.8% to 1.82 million tonnes, with further seasonal reductions expected until end of the year. Despite the drop in production, the Malaysian Palm Oil Council said Malaysian palm oil exports remained robust, posting a modest increase of 0.9% to 1.54 million tonnes. Year-over-year, September exports surged by an impressive 27.3%.

15/10/2024 (New Straits Times), Kuala Lumpur - It is the perfect time to introduce used cooking oil (UCO) futures in light of the growing emphasis on sustainability in the palm oil industry, according to an industry expert.