Archived News

29/03/2016 (Reuters) - Malaysian palm oil futures surged to a two-year high on Monday, rising for a sixth session out of eight, on persistent worries that a crop-damaging El Nino weather event would curb yields.

28/03/2016 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

28/03/2016 (Reuters) - Palm oil output in Malaysia, the world's second-largest producer, is estimated to fall by 2 million tonnes from a year earlier in the oil year ending September 2016 due to the effects of El Nino, leading industry analyst Dorab Mistry said.

28/03/2016 (Business Standard) - The global edible oil market was supported by the Chinese appetite for oilseeds, edible oils and oilmeals in the previous crop year. Surplus production from the US and South America was absorbed without impacting prices significantly. This year, too, we believe the oilseeds market won't be left to starve, as produce from Argentina and Brazil will keep markets well-supplied. China will also continue to buy a major chunk of the produce. The US Department of Agriculture (USDA)'s Attache Report stands proof that while China is likely to witness a record import of 84.5 million tonnes (mt) in 2016-17 due to rising incomes, urbanisation and the modernisation of the domestic feed and livestock sectors, its domestic oilseed production is set to decline to 52.7 mt.

28/03/2016 (The Star) - CIMB Equities Research is maintaining its Reduce for plantation heavyweight for IOI Corp on its rich valuations and rising concerns about the suspension of its RSPO.

28/03/2016 (Bernama) - Boustead Plantations Bhd expects to complete the disposal of a further 230 hectares of non-core landbank which will allow it to achieve gains RM120 million this year.

28/03/2016 (Sustainable Brands) - The sustainability of a product is a decisive factor for making a purchase decision for a growing number of consumers. “Many of our customers wish to further promote their sustainable development. We can help them”, said Jan-Peter Sander, Head of the Personal Care business of BASF in Europe. Framed by the motto “All about tomorrow”, BASF will present concepts and methods to its customers at this year’s in-cosmetics (April 12-14) in Paris, in addition to new ingredients and formulations, which will help them to achieve their own sustainability objectives.

28/03/2016 (Hindu Business Line) - Driven by higher yield of mustard seed, India’s oilseed production is seen higher by about 7 lakh tonnes (lt) for the year 2015-16 rabi season, according to the industry estimates.

28/03/2016 (Business Standard) - Prices of palmoelin and soyabean oils rose by up to Rs 60 per quintal at the wholesale oils and oilseeds market today on mild demand from retailers.

28/03/2016 (Reuters) - Indonesia will keep the export tax for crude palm oil at zero in April, unchanged from March, Nurlaila Nur Muhammad, the director of export of agriculture and forestry products at the Trade Ministry, said on Monday.

28/03/2016 (The Edge) - When Turkish soap heavyweight Evyap Holdings AS (Evyap Group) commenced operations of its Malaysian plant here in 2014, crude palm oil (CPO) prices had just tumbled to the lowest in over five years to RM1,914 per tonne a month earlier, weighed by larger-than-expected global vegetable oil supplies and low crude oil prices.

28/03/2016 (The Straits Times) - Norway's Government Pension Fund Global (GPFG), the world's largest sovereign wealth fund, has dropped 11 companies because of connections to deforestation, the fund said in its 2015 annual report.