Archived News

KUALA LUMPUR: The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday Feb 14.

KUALA LUMPUR: Malaysian palm oil futures on Tuesday snapped four days of gains, as the market corrected lower after a rally ahead of the Lunar New Year holidays, traders said.

Malaysia’s high palm oil stockpile level has finally come off from its recent record, thanks to the Government’s temporary suspension on crude palm oil (CPO) export taxes effective Jan 8 which boosted exports, say analysts.

PETALING JAYA: The Spanish government is rejecting any move leading to the discrimination of palm oil, following bilateral meetings with Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.

The European Parliament’s decision to ban palm oil, Malaysia’s biggest export item, is “drastic and discriminatory” and Kuala Lumpur is ready to retaliate with its own trade measures against Europe’s products if the ban takes effect, Malaysia’s Minister Datuk Seri Mah Siew Keong told EURACTIV.com on Tuesday (12 February).

Palm oil prices soared as data showing an unexpected drop in Malaysian inventories added to the boost to the oilseed complex from disappointing weekend rains in Argentina.

Kuala Lumpur: Felda Global Ventures Holdings Bhd (FGV) has applauded the German Ambassador to Indonesia, Michael von Ungern-Stenberg, for voicing his disagreement over the European Union's (EU) ban on palm oil.

Although the crude palm oil price remains under pressure at the start of 2018 (as palm oil stocks touched their highest level in over two years last December), prospects for the crude palm oil industry seem positive in 2018. Meanwhile, 2017 can be labeled the year of recovery for stakeholders in the palm oil industry after having been plagued by El Nino-related weather trouble in the preceding year.

The Nigerian Senate on Tuesday resolved to urge the Federal Government to ban the importation of palm oil/kernel, and inject funds to aid its local production.

SINGAPORE (Feb 14): The palm oil third-month contract may retrace into a range of 2,466-2,486 ringgit per tonne, following its failure to break a resistance at 2,545 ringgit.

When Malaysia’s biggest plantation company Sime Darby leased 220,000 hectares of lush forest in northwest Liberia in 2009, executives said they had found a much needed new frontier in global palm oil development.

Jakarta (ANTARA News) - Italy is supporting Indonesia`s bid to use palm oil as one of the biofuels in the European Union (EU) market, Indonesian Ambassador to Italy Esti Andayani said.