Archived News

23/03/2015 (Jakarta Globe) - Indonesia will impose a levy of $50 a tonne on exports of crude palm oil when prices fall below a threshold triggering a monthly tax on shipments overseas, the chief economics minister said.

23/03/2015 (The Punch) - PZ Cussons Nigeria Plc has declared a profit after tax of N2.787bn for the nine months ended February 28, 2015.

23/03/2015 (The Nation) - After 30 percent decline in Palm oil prices in the international market, the Punjab government has been persuading the producers of edible oil to reduce the prices proportionately to benefit the consumers. Punjab government had a point that after reduction in prices of petroleum products and palm oil in the international market, the cost of production has declined, and the benefit should accrue to the consumers. Initially, they resisted and used evasive measures, but when pressurised, they unilaterally declared a reduction Rs.5 per kg in prices of vegetable oil and ghee. Earlier, they even threatened to shut down their mills rather than reducing the prices suggested by the Punjab government.

20/03/2015 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday March 20.

20/03/2015 (Reuters) - Malaysian palm oil futures dropped on Friday as weak export figures worried traders, but the soft dollar helped to limit losses.

20/03/2015 (IHS Maritime 360) - Seaborne trade of vegetable oils (including palm) is expected to grow in 2015 to reach 82.3 million tonnes, according to Italian shipbroker Banchero Costa.

20/03/2015 (Hindu Business Line) - The government will strengthen all measures to prevent adulteration of food items in the market, including rice, coconut oil, fruits and vegetables, Health Minister V.S. Sivakumar has said.

20/03/2015 (Reuters) - Thursday's Rotterdam vegetable oil prices at 1700 GMT.

20/03/2015 (Jakarta Post) - Indonesia and the Netherlands have agreed to continue to enhance bilateral cooperation, the Foreign Ministry’s director general for America and Europe, Dian Triansyah Djani, has said.

20/03/2015 (ACN Newswire) - Indonesia's exports to Egypt rose significantly by 21.71 percent to US$1.342 billion last year from US$1.101 billion a year earlier, according to Indonesian Ambassador to Egypt Nurfaizi Suwandi.

20/03/2015 (Sun.Star) - A House of Representatives inquiry has found that the owner of an oil palm plantation in Misamis Oriental “cut corners” to set up the plantation on land owned by a local tribe.

20/03/2015 (Hindu Business Line) - The edible oils market in Mumbai witnessed dull trading for the second consecutive day following slack demand and sharp decline in Malaysian palm oil futures. Palmolein dropped by ₹1/10 kg, while other edible oils ruled steady on the Bombay Commodity Exchange. Liberty was quoting palmolein at ₹500, super palmolein ₹520 and soyabean refined oil ₹580. Ruchi traded palmolein for ₹498, soyabean refined oil ₹573 and sunflower refined oil ₹625. Allana’s rates: palmolein ₹500, super palmolein ₹530, soyabean refined oil ₹575 and sunflower oil ₹630.