Archived News

Petaling Jaya - Representatives of the country’s major small farmer organisations travelled to Brussels to personally present a petition to the European Commission demanding changes to the European Union’s Deforestation Regulation (EUDR).

Kuala Lumpur - The Malaysian Palm Oil Council (MPOC) will continue to demand changes to the European Union Deforestation Regulation (EUDR).

Crude palm oil prices dropped pressured by persistent doubts over demand, sharp pullbacks in rival vegetable oils, and a strong Malaysian ringgit. Rapeseed and sunflower oil prices declined after Russia and Ukraine extended their deal to secure grain trade through the Black Sea, pressuring other vegetable oils.

Palm oil has become an essential ingredient in various products we use daily, from food to cosmetics and even biofuels. It is a versatile and inexpensive vegetable oil, and demand for it has skyrocketed in the past few decades. However, palm oil production has also been linked to environmental damage and human rights abuses. Despite these concerns, palm oil production remains an important industry providing jobs and contributing to economic growth in many countries, including several in Africa.

KUALA LUMPUR: Malaysian palm oil futures tumbled more than 3 percent on Wednesday to close at their lowest in five months, weighed down by sharp losses in rival edible oils and crude oil, and lingering concerns over the global banking crisis.

The imports of edible oil including soyabean and palm oil into the country during the first eight months of the current financial year increased by 148.67 percent and 9.87 percent respectively as compared to the imports of the corresponding period of last year.

NAPERVILLE, Illinois, March 22 (Reuters) - Traders have sold off Chicago soybeans this month in spectacular fashion as economic concerns mount and Brazil’s bumper harvest hits the market.

(Reuters) - Malaysian palm oil futures fell more than 3% on Wednesday to its lowest in five months, dragged by deep losses in rival edible oils, crude and lingering concerns over the global banking crisis.

SINGAPORE: Palm oil may bounce further to 3,931 ringgit per tonne, as suggested by its wave pattern and a falling channel. The chart was a bit distorted by a contract switch on March 17. Due to this distortion, market may not fulfil its target of 3,736 ringgit. Indeed, the contract only narrowly missed this target.

Malaysian palm oil futures were unchanged on Tuesday after rising earlier in the day on bargain buying, but firmer currency and expectations of improving production pressured the price.

Following are selected highlights from a report issued by the U.S. Department of Agriculture’s (USDA) Foreign Agricultural Service post in Jakarta:

Jakarta (ANTARA) - Indonesia and Malaysia have donated 100 thousand germinated oil palm seedlings to help hundreds of Honduran farmers affected by the 2020 hurricanes, Coordinating Minister for Economic Affairs Airlangga Hartarto has said.