Archived News

Chief Minister Tan Sri Musa Aman has called on the European Union (EU) to stop its ongoing campaign against the palm oil industry.

Malaysian palm oil futures fell to a four-month low on Wednesday evening, a third consecutive session of losses as the ringgit strengthened against the dollar, making the tropical oil more expensive for holders of foreign currencies.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Nov 29.

Malaysian palm oil futures charted a second consecutive day of losses on Tuesday evening despite seeing gains earlier in the day, as a stronger ringgit , which makes the tropical oil more expensive for foreign buyers and aids demand, weighed on prices.

Ahead of the listings of Sime Darby Plantation Berhad (SD Plantation) and Sime Darby Property Berhad on 30 November 2017, Fitch Ratings has assigned ratings for the two Sime Darby companies it assesses, namely Sime Darby Berhad (SD Berhad) and SD Plantation.

Japan's Fuji Oil Holdings group is teaming up with a Malaysian company to make palm oil products that comply with international standards in order to allay consumer concerns over environmental and social problems rampant in the industry.

The palm oil third month contract may fall into a range of 2,519-2,555 ringgit per tonne, as suggested by its wave pattern, a projection analysis and a trendline.

Earlier in October, Punjab Food Authority announced that it would ban the production and sales of banaspati ghee by FY20 in the province owing to the adverse effects of trans-fat and its contribution to cardiovascular diseases. At the same time, we have been witnessing a strong upward trend of imported palm oil which is often a component in the production of ghee

Palm oil is in for a rough time, with the industry set to experience a bearish 2018. This, according to experts, comes on the back of a number of factors such as labour shortages, improved palm oil yields amid lower short-term demand from Malaysia’s traditional export markets, poor weather conditions and, in the longer term, fallout from the European Union’s ratification of an import ban on palm oil-based biofuels.

Palm oil on the European vegetable oils market edged higher, tracking gains in Malaysian palm on the back of bargain-buying and support from a weaker ringgit

Sime Darby Plantation Bhd (SDP), which will debut on Thursday on Bursa Malaysia, will be looking to explore and expand opportunities to increase its presence in other key geographical markets in Southeast Asia, the US, Europe, Africa and the Middle East

The government raised import duties on various edible oils on November 17, which is supporting the entire oil pack. Refined soya oil, crude palm oil, soyabean and rape mustard seeds witnessed gains between 4-7 per cent in a week’s time.