Archived News

07/08/2023 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures were range-bound on Monday, as traders weighed forecasts of higher inventories against global supply concerns amid an escalation of tension in the Black Sea.

08/08/2023 (Daily News, Sri Lanka) - The Planter’ Association of Ceylon (PA) renewed calls for urgent action from policymakers to green light diversification into more lucrative crops like oil palm, in the wake of a sharp reduction in prices of tea and rubber over the first half of 2023 (1H23).

07/08/2023 (New Age) - The government will eliminate the sales of unpackaged soya bean oil within the next six months, said a senior official of the Directorate of National Consumers’ Right Protection on Monday.

05/08/2023 (The Borneo Post), New Delhi - The Malaysian Palm Oil Board (MPOB) has signed a memorandum of understanding (MOU) with an Indian trade body to promote the exchange of vegetable oil sector knowhow between the two countries.

06/08/2023 (The Star Online), Kuala Langat - The Plantation and Commodities Ministry (KPK) will propose oil palm replanting grants to the Finance Ministry (MOF), said Deputy Prime Minister Datuk Seri Fadillah Yusof.

05/08/2023 (Malay Mail), Kuala Lumpur - The world’s largest palm oil producers, Malaysia and Indonesia, have agreed to set up an ad hoc joint task force (JTF) to establish dialogue and relevant workstreams to build mutual understanding on the implementation of the European Union Deforestation Regulation (EUDR) and its core aspects, including benchmarking

04/08/2023 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures rose on Friday from a one-month closing low in the previous session, although the contract is headed for a second weekly loss.

04/08/2023 (Daily FT) - Sri Lanka’s recent decision to either temporarily ban or restrict palm oil cultivation has attracted significant attention both domestically and internationally. As a result, the Asian Palm Oil Association (APOA), a multilateral body representing the industry across India, Bangladesh, Nepal, Sri Lanka, and Pakistan, has expressed concerns about the significant negative impact of these policy decisions for Sri Lanka.

03/08/2023 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures extended early losses on Thursday, hitting its lowest closing since the end of June as it tracked losses in rival edible oils and concerns over sluggish demand.

03/08/2023 (North Africa Post) - The World Bank’s private sector financing arm, International Finance Corporation (IFC), has provided a credit package of $150 to Olam Palm Gabon, the subsidiary of Singapore-based Olam International, to boost the company’s production of palm oil in the central African country.

02/08/2023 (Eco Business) - Palm oil plantations are better at absorbing carbon than tropical forests, an executive for the Indonesian government’s palm oil agency claimed on Tuesday (1 August), despite scientific evidence that proves the opposite.

02/08/2023 (Tempo.co), Jakarta - The Indonesian Palm Oil Association (GAPKI) chairperson Eddy Martono stated that his side is eyeing China as its largest destination for palm oil exports.