Archived News

21/08/2024 (Malay Mail), Kuala Lumpur - Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani underscored the critical role of his ministry in driving the national economy today, revealing that it contributes nearly RM160 billion in exports. He said that palm oil alone accounted for over RM100 billion of that total.

22/08/2024 (The Star), Kuala Lumpur - MKH Oil Palm (East Kalimantan) Bhd’s (MKHOP) prospects for the financial year ending September 30, 2024 remain strong, supported by robust market demand for crude palm oil, which is currently trading at approximately RM3,650 per tonne in Indonesia.

21/08/2024 (People Daily) - Members of Parliament (MPs) will open an inquiry to establish how the government lost Sh62 billion in revenue for the last three years in imported refined edible palm oil disguised as crude palm oil.

22/08/2024 (The News), Madrid - Sunflower oil has dethroned olive oil as king of the kitchen in Spain, the world’s largest olive oil producer, as rising prices force consumers to switch to cheaper options.

22/08/2024 (Financial Express) - In an attempt to reduce India’s high dependence on edible oil imports, the government is looking to boost domestic oilseeds production. The plan is to increase yields, expand the area under cultivation and introduce a dynamic import duty structure so that domestic prices are not impacted by cheaper imports.

20/08/2024 (Bernama), Melaka - The Sustainable Oil Palm Growers Cooperatives (KPSM) under the Malaysian Palm Oil Board (MPOB) are urged to play a proactive role so that abandoned palm plantations can be developed through replanting projects in an effort to increase the nation's palm oil production.

20/08/2024 (New Straits Times), Kuala Lumpur - Johor Plantations Group Bhd's (JPG) net profit jumped nearly threefold to RM49.74 million in the second quarter ended June 30, 2024 (2Q24) from RM12.65 million a year ago, from higher revenue selling crude palm oil (CPO) and palm kernel (PK).

20/08/2024 (Ofi Magazine) - Leading Malaysian agribusiness FGV Holding has produced its first batch of European Union Deforestation Regulation (EUDR)-compliant crude palm kernel oil (CPKO), New Straits Times reported.

20/08/2024 (Reuters), Kuala Lumpur - Malaysia has maintained its export tax for crude palm oil at 8% in September and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.

21/08/2024 (Times of India), Noida - A Greater Noida resident claimed a block of paneer he bought from a local store was laced with vegetable oil — a commonly used as adulterant to keep cottage cheese soft for long.

19/08/2024 (Reuters), Jakarta - Indonesia has revised its rules on its palm oil domestic market obligation (DMO) scheme, raising the price cap in a bid to improve supplies of cheap cooking oil, the trade ministry said.

19/08/2024 (Zee Business) - Crude sunflower oil prices rose by Rs 8.70 to Rs 892.30 per 10 kilograms in the futures market on Monday, driven by increased spot demand and active trading on the Multi Commodity Exchange. The August delivery contracts saw a 0.98% rise, with a significant business turnover.