Archived News

30/03/2016 (Bernama) - IOI Corporation Bhd said it is actively engaging with the Roundtable on Sustainable Palm Oil (RSPO) with regards to suspension of the RSPO certification of the entire IOI Group effective April.

30/03/2016 (Bernama) - Plantation conglomerate, Felda Global Ventures Holdings Bhd, has appointed Datuk Zakaria Arshad, 56, as its new Group President / Chief Executive Officer effective April 1.

30/03/2016 (Bernama) - Son of a Felda settler, Datuk Zakaria Arshad, 56, has risen by rank and file to helm the world's largest crude palm oil (CPO) producer, Felda Global Ventures Holdings Bhd (FGV).

30/03/2016 (Business Standard) - The increase in prices of palm oil or palm fatty acids (PFAD) – a key input used in making soaps – is seen as a blessing in disguise for listed fast-moving consumer goods (FMCG) companies. Typically, price hikes led by input-cost inflation tend to hurt demand. However, that’s not be the case this time. PFAD prices rose 13 per cent in February this year on a month-on-month basis. This will necessitate price hikes in soaps in the coming months or reduction in excessive promotional activity levels in the segment, which could edge out smaller unorganised players.

30/03/2016 (Wall Street Journal) - India’s commodity giant, 3F Oil Palm Agrotech Ltd. plans to invest $200 million on a giant palm oil project in plans to build in Gabon, a key swing to boost the tiny mineral-rich African nation facing the glut of plunging world oil prices.

30/03/2016 (Indonesia Investment) - Crude palm oil (CPO) production in Indonesia and Malaysia is expected to decline due to the impact of the El Nino weather phenomenon (that brought a prolonged dry season to Southeast Asia). CPO production in Malaysia could fall between 1.5 and 2 million tons this year according to Dorab Mistry, Director at Godrej International. Declining output in the world's two leading palm oil producers and exporters implies that palm oil prices should be able to rise further. At the start of this week palm oil futures traded in Kuala Lumpur (June delivery) rose to 2,779 ringgit (approx. USD $695) per ton, the highest level since March 2014.

29/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

29/03/2016 (Reuters) - Malaysia's palm oil exports to predominately Muslim countries have been falling as rising prices for the tropical oil and weak domestic currencies are limiting imports, and the high-consumption period of Ramadan is unlikely to turn the trend.

29/03/2016 (Hindu Business Line) - Malaysian palm oil futures on BMD were higher Monday, and hit a two-year high rising for a sixth session out of eight, on persistent worries that a crop-damaging El Nino weather event would curb yields.

29/03/2016 (Business Standard) - Crude palm oil prices climbed by 1.43 per cent to Rs 533.40 per 10 kg in futures trade today as participants created fresh positions after uptick in demand at the spot market.

29/03/2016 (Business Standard) - Prices of palmolein and soyabean oils rose by Rs 50 per quintal at the wholesale oils and oilseeds market today following fresh buying by vanaspati millers coupled restricted supplies from producing regions.

29/03/2016 (Bernama) - Oil palm companies can play an important role in the development of renewable energy, says Sabah Tourism, Culture and Environment Minister, Datuk Masidi Manjun.