Archived News

14/07/2024 (Bastille Post Global) - In a bid to promote Malaysian palm oil to Chinese businesses and consumers, an official from the Southeast Asian country's plantation authority led a delegation to China from July 8 to 12.

14/07/2024 (New Straits Times), Tumpat - The Kelantan Domestic Trade and Cost of Living Ministry foiled an attempt to smuggle cooking oil in packets to Thailand with the seizure of 476kg yesterday.

13/07/2024 (The Star), IPOH - In order to purchase the 1kg subsidised cooking oil packets, customers visiting a sundry shop in Alor Pongsu, Parit Buntar, have been required to buy other items first.

Analysts are maintaining their “neutral” stance on the plantation sector, with pockets of positivity based on a projected increase in crude palm oil (CPO) stockpile in the second half of 2024 (2H24).

Malaysia’s total palm oil stocks increased by 4.35% to 1.83 million tonnes in June 2024 from 1.75 million tonnes in May 2024, according to the Malaysian Palm Oil Board (MPOB).

Malaysian palm oil futures settled higher on Thursday even as an industry regulator said inventories in June surged to a four-month high.

India's palm oil imports in June rose to reach the highest level in six months on robust demand from refiners for upcoming festivals, while sunflower oil imports surged to a record level, a leading trade body said on Thursday.

Import of vegetable oils, comprising edible and non-edible oils, rose 18 per cent in June to 1.55 million tonnes on higher imports of crude palm oil and crude sunflower oil, according to trade data.

11/07/2024 (New Straits Times), Kuala Lumpur - The recent increase of foreign labour is anticipated to significantly enhance Malaysia's palm oil production this year and in the future.

10/07/2024 (The Star), Kuala Lumpur/Mumbai - Malaysia's palm oil stocks surged to a four-month high in June, driven by a steeper decline in exports compared to production, the industry regulator said on Wednesday.

10/07/2024 (Reuters), Mumbai - Malaysian palm oil futures extended losses on Wednesday as inventories rose to a four-month high in June and due to weakness in soyoil, even though an increase in July exports limited the downside.

10/07/2024 (Reuters), Jakarta - Indonesia plans to use funds from its palm oil export levy to finance development of the country's cocoa and coconut sectors, the country's trade minister said on Wednesday.