Archived News

MUMBAI: Indonesia's biodiesel production could rise to 7 million tonnes in 2019, up 40 percent from an estimated 5 million tonnes this year, due to a new programme to boost local biodiesel consumption, said an Indonesian ministry official on Thursday.

MUMBAI: Malaysian palm oil futures fell over 1 percent on Thursday after three consecutive sessions of gains, on expectations of rising inventory levels and technical selling.

MUMBAI (Sept 27): Crude palm oil prices are forecast to trend at US$590 per tonne including cost, freight and insurance (CIF Rotterdam) by the end of the year, on the back of firm demand from the biodiesel sector, industry analyst Julian McGill said on Thursday.

A new report by Greenpeace finds that palm oil suppliers to the world’s largest brands have cleared more than 1,300 square kilometres of rainforest — an area the size of the city of Los Angeles — since the end of 2015.

Indonesia is to keep export taxes for cocoa bean shipments in the month of October at 5 percent, while leaving crude palm oil exports untaxed, the Trade Ministry said on Thursday, unchanged from this month.

A lawmaker and an industry analyst have called on the government to scrap its export tax on crude palm oil to help improve the competitiveness of the sector and boost exports, amid a weakening rupiah.

Southeast Asia’s palm oil stocks are set to scale record highs in October or November, according to planters, traders and analysts surveyed by Reuters, as storage tanks at ports and mills pile up with supplies.

KUALA LUMPUR: Malaysian palm oil futures fell over 1 per cent on Thursday after three consecutive sessions of gains, on expectations of rising inventory levels and technical selling.

KUALA LUMPUR (Sept 27): Kim Loong Resources Bhd's net profit more than halved to RM12.01 million in the second quarter ended July 31, 2018 (2QFY19), from RM26.26 million in the corresponding quarter last year, due to lower fresh fruit bunches (FFB) production and palm oil prices.

KUANTAN: The Pahang Farmers’ Organisation (Pasfa) is planning to set up its own oil palm processing factory in the state following an increase in its crop production.

MULTAN: Indonesian Ambassador to Pakistan Iwan Suyudhie Amri on Thursday said that his country was providing 60 per cent palm-oil to Pakistan out of its total need.

The trade war has reduced US soybean prices against rival origins. This was stated by Julian McGill, head, South-East Asia, LMC International, UK, in his presentation, titled What are the next important drivers in the edible oil market? It was made during the first session of 22nd essay of Globoil India, which was organised by Tefla’s and commenced in Mumbai recently.