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Malaysia, Indonesia and Thailand will retaliate if the EU’s ongoing discrimination and attack on the palm oil industry becomes legislative, said Plantation Industries and Commodities Minister Datuk Seri Mah Siew Keong.

Companies that are currently using the "Palm Oil Free" or "No Palm Oil" labels on their products packaging would eventually remove the label in the next three to four years.

Malaysia, Indonesia and Thailand are ready to join forces and retaliate over the European Union’s (EU) threat to exclude palm oil from its biofuel mix and renewable energy by 2021, which is a discriminatory act and amounts to an attack on the palm oil industry

Malaysian palm oil futures dropped over 1% in evening trade on Tuesday, falling from a near seven-week high hit earlier, weighed down by expectations of sluggish exports.

Palm oil on the European vegetable oils market was stronger on Monday, tracking gains in Malaysian palm oil futures on positioning ahead of Wednesday’s MPOB supply/demand and stocks report.

Long-standing labor shortages, lack of mechanization in the collection of fresh fruit bunches, rising operational costs, lower demand from traditional export markets such as China and India, and increasing anti-palm oil campaigns in Europe confront the industry

The move to suspend crude palm oil (CPO) export taxes for three months is positive for Malaysian planters as it will help boost exports of the commodity.

Malaysian palm oil futures rebounded from early losses to rise over 1% in evening trade on Monday, as traders forecast improving demand in January and lower production in the coming months.

The government expects up to 10% reduction of earnings for the country’s palm oil exporters, as the ringgit continues to strengthen against the greenback, said Ministry of Plantation Industries and Commodities (MPIC) Minister Datuk Seri Mah Siew Keong.

In restricted activity, groundnut oil prices eased by Rs 100 per quintal at the wholesale oils and oilseeds market today on muted demand against adequate stocks position.

Kochi, January 8: Supply constraints and lower production have pushed up coconut oil and copra prices to a new high in recent months

New Delhi, Jan 8 Crude palm oil prices softened 0.30 per cent to Rs 559 per 10 kg in futures trade today as speculators reduced exposure on account of sluggish demand in spot markets.