Archived News

11/11/2024 (The Edge Malaysia), Kuala Lumpur - Malaysia’s palm oil stocks at the end of October this year fell 6.32% from the previous month to 1.88 million metric tonnes, the first decline in inventory in three months, data from the industry regulator showed on Monday.

11/11/2024 (New Straits Times), Kuala Lumpur - BMI Research has raised the Bursa Malaysia-listed three-month crude palm oil futures contracts in 2024 and 2025 by at least five per cent on tighter supplies.

11/11/2024 (Oils & Fats International) - The Malaysian Palm Oil Board (MPOB) has set a target of more than 90% of independent smallholders (ISH) to achieve Malaysian Sustainable Palm Oil (MSPO) certification by the end of next year, The Star reported.

11/11/2024 (1news) - The Foodstuffs-commissioned data analysis suggests supplier costs to its supermarkets have reached their lowest point in years, rising an average of 2% in October compared to the same time last year.

12/11/2024 (Chemanalyst) - On Friday, 8 November, the UK’s Trade Remedies Authority (TRA) provisionally recommended that a countervailing duty on biodiesel imported from Argentina be maintained until February 2029. In its Statement of Essential Facts (SEF), the TRA suggested that this duty should remain between 25% and 33.4%. The products included in this review are “fatty-acid mono-alkylesters or paraffinic gasoils obtained from synthesis or hydrotreatment of non-fossil origin in pure form or as part of a blend,” commonly referred to as biodiesel. This recommendation is part of the TRA’s ongoing transition review assessing the impact and future need of existing trade measures following the UK’s exit from the EU.

09/11/2024 (Chemanalyst) - Indonesia is moving forward with a bold vision to boost its palm oil production significantly in the coming years, driven by its ambitious plans to expand the use of biodiesel in its energy mix. At the Indonesia Palm Oil Conference, Airlangga Hartarto, Indonesia’s Coordinating Minister for Economic Affairs, expressed optimism that the country's palm oil output could be scaled up to meet growing energy demands as the government prepares to implement a higher biodiesel mandate. Under the new policy, Indonesia will raise the mandatory biodiesel blend from 35% (B35) to 40% (B40) by 2025. This is part of an ongoing effort to reduce the nation’s dependence on imported fossil fuels, improve energy security, and support the palm oil sector, which remains a vital pillar of the country's economy.

08/11/2024 (The Star), Nusa Dua - Malaysian benchmark palm oil futures are expected to trade above and around 5,000 ringgit ($1,141) per metric ton until June 2025, supported by tight supply and bullish demand, leading industry analyst Dorab Mistry said on Friday.

08/11/2024 (Reuters), Paris/Canberra - Chicago soybean futures edged down on Friday after a one-month peak in the previous session as the focusturned from U.S. President-elect Donald Trump's victory in the Nov. 5 election to crop forecasts later in the day.

08/11/2024 (The Nation) - The Energy Ministry will reduce the palm oil used in biodiesel fuel from November 21 onwards, turning it to B5 from B7 biodiesel, in the face of rising palm oil prices.

09/11/2024 (Malay mail), Jakarta - Media OutReach Newswire - 9 November 2024 - In a significant move to strengthen Indonesia's National Free Meals Program, a cornerstone of President-elect Prabowo Subianto's campaign, Ruifeng Wealth Management Pte Ltd has signed a Memorandum of Agreement (MoA) with INDUK KUD, Indonesia's largest agriculture cooperative organization, to establish up to five palm oil mills and cooking oil refineries. President Prabowo is also the Chairman of INDUK KUD's Development Council, has allocated an annual budget of approximately US25.6 billion to combat childhood stunting and malnourished students across Indonesia. The collaborative effort between Ruifeng Wealth Management and INDUK KUD will ensure the production and supply of high-quality cooking oil for the country's national meal program.

07/11/2024 (The Star), Nusa Dua - Indonesia's chief economic minister Airlangga Hartarto (pic) said on Thursday (Nov 7) he is confident palm oil production can be boosted in coming years to meet the country's rising demand for biofuel.

07/11/2024 (The Western Producer), Saskatoon - Vegetable oil prices will continue to climb during the crop year, according to an industry analyst.