Archived News

PUTRAJAYA: A total of 758,923 hectares (ha) of oil palm plantations and 70 mills have obtained the Malaysia Sustainable Palm Oil (MSPO) certification as at February 2018, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Monday March 19.

The Department of Energy Business (DOEB) plans to increase the proportion of palm-based biodiesel to absorb the surplus in crude palm oil.

Malaysian palm oil futures showed improvement on gains for fourth consecutive session due to expectations of increasing demands from Muslim regions such as Middle East to stock up for upcoming Ramadan in one month time as well as underpinned by strength in rival edible oils.

Malaysian palm oil futures fell 1 percent on Friday, ending four straight days of gains on forecasts for rising production in March.

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday March 16.

KUALA LUMPUR: Malaysian palm oil futures rose for a fourth consecutive session on Thursday, hitting a one-week top on short-covering and expectations of higher demand ahead of Ramadan.

Import of vegetable oils during February 2018 is reported at 1,157,044 tons compared to 1,270,443 tons in February 2017, consisting 1,124,999 tons of edible oils and 32,045 tons of non-edible oils i.e. down by 9%, as per the import data of Vegetable Oils (edible & non-edible) for the month of February 2018 compiled by The Solvent Extractors' Association of India. The overall import of vegetable oils during November 2017 to February 2018 is reported at 4,785,778 tons compared to 4,684,451 tons i.e. up by 2%.

THE Industrial Development Corporation (IDC) says it will this year increase production of crude oil at Zampalm Limited from 31 tonnes last year to 160 tonnes.

Earlier, this month, India raised import tax on crude and refined palm oil to the highest level in more than a decade, as the world’s biggest edible oil importer tried to support local farmers. The duty increase is supposed to lift oilseed prices and encourage domestic supply for crushing, helping cap edible oil imports in the 2017-18 marketing year that started on November 1.

Riding on the wind of a conducive investment climate guaranteed by the Governor Godwin Obaseki-led government in Edo State, Okomu Oil Palm Company Plc has commissioned an 11,400-hectare oil palm plantation covering over 10 communities in the state.

KUALA LUMPUR (March 14): Malaysian palm oil futures hit a one-week high in early trade on Wednesday, supported by overnight gains in soyoil on the Chicago Board of Trade and on technical correction after the tropical oil fell to a more than one-and-a-half-year low earlier this week.