Archived News

02/08/2023 (Jakarta Globe), Jakarta - Indonesia on Wednesday persuaded Switzerland, a member of the European Free Trade Association or EFTA, to get the group into recognizing the country's sustainability certification scheme for palm oil called the ISPO.

02/08/2023 (Reuters), Mumbai - India's edible oil imports in July rose to a record 1.76 million metric tonnes as refiners built up stocks for upcoming festivals given uncertainty over supplies from the Black Sea, five dealers told Reuters.

02/08/2023 (Nasdaq) - Malaysian palm oil futures closed up on Wednesday after six straight sessions of losses, underpinned by a weaker ringgit and stronger rival oils.

02/08/2023 (Times of India), Ahmedabad - Due to a high-cost inventory triggered by a decline in edible oil prices, FMCG major, Adani Wilmar Limited posted a net loss of Rs 79 crore during the first quarter of FY 2024, according to the company’s regulatory filing on Wednesday. This is against a prifit of Rs 194 crore during the corresponding quarter of FY 2023. The company’s annual revenues also declined 12% to Rs 12,928 crore from Rs 14, 724 crore during the same period.

01/08/2023 (Malay Mail), Kuala Lumpur - Malaysia’s crude palm oil (CPO) prices are expected to trade in the range of RM3,700 to RM4,200 per tonne during the second half of 2023 (2H 2023), said the Malaysian Palm Oil Council (MPOC).

01/08/2023 (Nasdaq), Jakarta - Malaysian palm oil futures inched higher on Tuesday, breaking a streak of five consecutive sessions of losses as soyoil in the Chicago Board of Trade recovered.

31/07/2023 (Nasdaq), Jakarta - Malaysian palm oil futures fell for a fifth consecutive session on Monday, after they tracked weaker rivals and as market participants awaited July export data, although the contract was set for a monthly gain.

01/08/2023 (Invezz) - Palm oil price has staged a strong comeback in the past few weeks as investors refocus on the ongoing drought. After tumbling to 705 in May, the price surged to a high of 895 in July even as other commodity prices remained under intense pressure.

01/08/2023 (Channel News Asia), Jakarta - Flag carrier Garuda Indonesia said on Tuesday it is testing jet fuel mixed with palm oil in the engines of one of its Boeing aircraft, amid efforts to cut emissions in the aviation sector.

Malaysian palm oil futures closed down 3.02% on Monday, following a stronger ringgit and weakerrival oils, although the contract booked a monthly gain.

TEMPO.CO, Jakarta - The government will apply biodiesel 35 or B35 simultaneously nationwide starting Tuesday, August 1. B35 is a fuel with 35 percent biofuel (BBN) mixed into fuel oil (BBM). The B35 was first launched on February 1 this year.

PETALING JAYA: PublicInvest Research expects Chin Teck Plantations Bhd to see better results in the final quarter of the financial year 2023 (4Q23), underpinned by improved crude palm oil prices, supported by the current El Nino weather pattern.