Archived News

29/09/2014 (Livemint) - India is examining an industry demand to raise import duty on edible oils, food minister Ram Vilas Paswan told reporters on Saturday, as local oilseed prices have fallen due to a surge in shipments of cheaper palm oil.

29/09/2014 (Reuters) - Palm oil prices are likely to fall nearly 13 percent to hit a new 5-1/2-year low of 1,900 ringgit ($583.36) per tonne on higher output and sluggish demand, but losses could be restricted to 2,000 ringgit if the Malaysian currency depreciates sharply, leading analyst Dorab Mistry said.

29/09/2014 (Reuters) - Malaysia, the world's second-biggest palm oil producer, could extend duty free exports until the end of 2014 if prices of the tropical oil remain at current levels, a leading palm oil producer told Reuters in an interview.

29/09/2014 (Reuters) - Crude palm oil export prices in Indonesia, the world's biggest producer, could rise to $730-$750 per tonne in January-March 2015 from $680 per tonne now due to a slowdown in production growth, leading analyst Thomas Mielke said on Sunday.

29/09/2014 (NST) - IJM Plantations Bhd, the plantation arm of IJM Corp Bhd wants to bolster its planted oil palm estates to match and eventually outpace the land size of Singapore.

29/09/2014 (AllAfrica.com) - Nigeria's economy has experienced series of reforms in the last 54 years. The annual indices on growth of Gross Domestic Product (GDP) from 1960 to 1970 was 3.1 per cent. In the 1980s, the economy on average recorded high rates of inflation but with low rate of unemployment.

26/09/2014 (Reuters) - Malaysian palm oil futures ended lower on Wednesday, as investors stayed cautious on rising stocks and renewed fears about a slowing global economy on Spain's financing woes.

26/09/2014 (Triple Pundit) - The global uptake of ‘zero deforestation‘ claims is growing, with demand for deforestation-free products on the rise. The Consumer Goods Forum, representing 400 global brands such as L’Oreal, Proctor & Gamble and Unilever, has committed to help members “achieve zero net deforestation” in their supply chains by 2020. Retailers have also stepped up, such as Safeway, with its recent pledge to source palm oil only from sites where “no deforestation has occurred after Dec. 20, 2013.”

26/09/2014 (US Department of State) - At the 2014 United Nations Climate Summit, the United States applauded the announcement of the landmark Indonesia Palm Oil Pledge. The Pledge is an agreement among leading palm oil producers that commits them to industry-leading sustainability practices. These include proactive government engagement on policy reform and a principle of no planting on high carbon stock or peat lands.

26/09/2014 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.

26/09/2014 (Jakarta Post) - The government will inaugurate next week state company PT Perkebunan Nasional (PTPN) III as the holding firm for the plantation sector, dealing with 13 other plantation companies across the country.

26/09/2014 (Jakarta Post) - A coalition of NGOs criticized on Tuesday the involvement of large companies — which, according to the NGOs, are the cause of deforestation — at the UN 2014 Climate Summit in New York, saying the companies would only hinder efforts to save the forests.