Archived News

20/06/2024 (The Edge Malaysia) - The mandatory palm oil certification scheme, the Malaysian Sustainable Palm Oil (MSPO), is a world-class standard capable of helping Malaysian exporters and European customers adhere to stringent no-deforestation regulations. This conclusion emerged from a recent webinar organised by the Malaysian Palm Oil Council, featuring experts from the European Forest Institute (EFI) — Dr Jossil Murray and Pierre Bois d’Enghien, a leading palm oil and rubber certification expert and the author of the MSPO EU Deforestation Regulation (EUDR) gap analysis.

20/06/2024 (Business Today) - Malaysia’s total trade rose for the 5th straight month at +10.3%yoy in May-24, underpinned by higher exports and imports. The trade surplus also widened to RM10.1b, improving from the post-pandemic low of +RM7.7b in Apr-24 as monthly growth in exports was faster (+11.8%mom) than imports (+10.3%mom). From year-on-year perspective, exports growth was sustained for the second month in a row at +7.3%yoy (Apr-24: +9.1%yoy), stronger than market expectations. Domestic exports expanded further at +13.2%yoy, sustaining growth since Jan-24 and continue to offset the continued contraction in re-exports (-14.1%yoy).

20/06/2024 (Business Recorder), Jakarta - Malaysian palm oil futures extended gains for a second consecutive session on Thursday despite lower estimates of palm oil exports for June 1-20.

20/06/2024 (Securing Industry) - Used cooking oil (UCO) has become a sought-after commodity, for example as a source of green aviation fuel, but scarcity of supply is leading to fraud with serious environmental consequences.

19/06/2024 (Agro Spectrum) - The edible oil market has witnessed a price increase in recent months, driven by multiple global factors. These factors have caused fluctuations in global edible oil markets, leading to price hikes of Rs 50 to 70 per 10 kg in most edible oils. Currently, cottonseed oil stands at Rs 975 per 10 kg, up from Rs 930 per 10 kg three months ago. Soybean oil is now priced at Rs 970 per 10 kg, compared to Rs 910 per 10 kg, and rice bran oil has risen to Rs 950 per 10 kg from Rs 890 per 10 kg over the same period. Similarly, sunflower oil is priced at Rs 980 per 10 kg, up from Rs 900 three months ago and mustard oil stands at Rs 1190 per 10 kg, increased from Rs 1060 per 10 kg three months ago.

19/06/2024 (South China Morning Post) - Malaysia’s palm oil industry is hoping to get a fresh kick from China’s insatiable appetite for mala hotpot as the world’s second-largest producer of the vegetable oil looks to diversify markets for a sector that faces possible sanctions under deforestation rules imposed by the European Union.

19/06/2024 (New Straits Times), Kuala Lumpur - The Domestic Trade and Cost of Living Ministry has uncovered a case involving a supplier suspected of short-weighting cooking oil packs.

19/06/2024 (Business Recorder), Jakarta - Malaysian palm oil futures rose on Wednesday, tracking rival vegetable oils on the Dalian Commodity Exchange, recouping some of the losses in the previous session.

18/06/2024 (Grain Central) - The Arnott’s Group has been announced as a founding partner of Cargill’s SustainConnect program, which aims to enhance the production of sustainable canola oil in Australia.

20/06/2024 (Biodiesel Magazine) - Topsoe on June 17 announced Braya Renewable Fuels’ biorefinery in Come By Chance, Newfoundland, is now successfully operating and producing renewable diesel at design capacity. The facility, which utilizes Topose’s HydroFlex technology, is also expected to produce sustainable aviation fuel (SAF) in the future.

18/06/2024 (New Straits Times) - A healthy diet must include enough intake of fats. A fat-poor diet can lead to health issues. Nutritionists also advocate that the percentage of energy from fats should not exceed 10 per cent. Too much is also unhealthy. The global demand for edible fats has been growing around 3 per cent yearly, driven by both population growth and the changing diet of the people.

18/06/2024 (Puch) - The National Palm Produce Association of Nigeria has revealed that the country could save a staggering $600m annually by investing in the domestic palm oil sector.