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Prime Minister Mahathir Mohamad said on Monday (Apr 15) that Malaysia intends to take advantage of the revived East Coast Rail Link (ECRL) project to sell more palm oil to China, after a successful renegotiation saved it from having to fork out RM21.78 billion (US$5.3 billion) in cancellation fees.

Malaysian palm oil futures traded mostly range bound in the first half on Monday due to lack of bullish news, but edged lower at midday break as stockspiles remained high.

India's refined palm oil imports rose 92% year on year to 312,673 mt in March, the latest Solvent Extractors' Association of India update showed Monday.

Malaysian palm oil futures fell to their lowest levels in two weeks, dropping for a third session in four as stockpiles remained high and exports came in weaker than forecast.

The government has threatened to bring its palm oil dispute with the European Union to the World Trade Organization's Dispute Settlement Body (DSB) if the EU proceeds to treat palm oil as a high-risk vegetable oil in its latest delegated act.

Palm oil equipment manufacturer CB Industrial Product Holding Bhd (CBIP) said its unit has been awarded a contract worth RM71.17 million to build palm oil mills in Papua New Guinea's Markham Valley.

CB Industrial Product Holding Bhd has clinched a RM71.17 million contract from New Britain Palm Oil Ltd.

RAM Ratings lowered its crude palm oil (CPO) price forecast to an average of RM2,200 and RM2,400 a tonne in 2019 from RM2,300 and RM2,500 previously.

Indonesia’s Minister of Agriculture Amran Sulaiman had affirmed that B100 Biodiesel from crude palm oil (CPO) that was tested on Monday was the key to fighting the European Union (EU)’s discrimination against palm oil.

The Philippines consumed approximately 1.3 million metric tons of palm oil in 2017. Despite experiencing no significant increase in demand, the Philippines Statistics Authority (PSA) reported that the nation’s palm oil imports reached a new high in 2018, soaring to 278,384.039 metric tons. This is 176.3%, higher than 2017’s imports

Some critics have claimed that palm oil is linked with heart disease and other non-communicable diseases

Prime Minister Tun Dr Mahathir Mohamad has been asked to negotiate for more palm oil sales for Malaysia when he goes for the upcoming One Belt One Road seminar next month, says Primary Industries Minister Teresa Kok.