Archived News

KUALA LUMPUR: Malaysian palm oil futures made their sharpest daily gains in a month on Thursday, tracking rises in soyoil on the Chicago Board of Trade and supported by a weaker ringgit, traders said.

PETALING JAYA: The Government has described the recent vote to endorse a ban on palm oil biofuel in Europe as a “step backwards”.

Southeast Asia's palm oil exporters have the means to retaliate if the European Union imposes restrictions on the commodity, Indonesia's trade minister warned on Wednesday in an exclusive interview with the Nikkei Asian Review.

Hyderabad: Indian edible oil companies are expecting a strain on their margins with the recent import duty increase on crude and refined palm oil, which is the highest in a decade, making edible oil expensive.

KUALA LUMPUR: Malaysian palm oil futures made their sharpest daily gains in a month on Thursday, tracking rises in soyoil on the Chicago Board of Trade and supported by a weaker ringgit, traders said.

The world’s largest palm oil trader has unveiled a series of sustainability initiatives. But some campaigners say it has failed to tackle the root causes of exploitation in its operations.

KUALA LUMPUR: The Council of Palm Oil Producing Countries (CPOPC) ,in a reply to Netherland’s flag carrier KLM’s sustainable catering policy, is suggesting that the airline also consider supporting Indonesia’s effort in replanting high-yielding oil palm plants for smallholder farmers.

The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Thursday Nov 30

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 world’s biggest palm oil processor Wilmar has launched fresh measures to improve conditions of thousands of children living on its plantations, but campaigners said on Wednesday that it was not doing enough to tackle widespread use of child labor.

Sri Lanka’s plantations industry has called for more support for palm oil as profits from the crop surged, exceeding that of tea and rubber, saying it needed less effort and labour, yielding healthy margins.

Malaysian palm oil concession maps have been left out by the Roundtable on Sustainable Palm Oil (RSPO) from public viewing, as it infringes the Official Secrets Act 1972 (OSA).