Archived News

18/01/2023 (Nasdaq), Kuala Lumpur - Malaysian palm oil futures rebounded on Wednesday, tracking strength in crude and rival edible oils, although talks of key buyer India weighing higher import duties limited the advance.

18/01/2023 (East Asia Forum) - ASEAN member states should consider using economic pressure to influence the behaviour of the ruling military junta in Myanmar. Myanmar is one of the least developed countries in ASEAN, which has created an asymmetric relationship between Myanmar and other ASEAN member states. This gap creates the opportunity for ‘weaponised interdependence’, through which stronger ASEAN member states can leverage their position to influence less developed members.

18/01/2023 (The Sun Daily), Petaling Jaya - Malaysia’s trade soared to a new high in 2022, surpassing RM2 trillion for the second consecutive year and registered the fastest growth since 1994.

19/01/2023 (The Jakarta Post) - Indonesian exports, which generated about US$54.5 billion in trade surplus last year, up by 50 percent from 2021, are widely predicted to decline this year due to the weakening commodity market as the risks of economic recession have pressed down global demand for goods.

17/01/2023 (Asia News Network), Jakarta - As Indonesia and Malaysia account for almost 90 percent combined of the world’s palm oil production and this commodity plays a very important role in their economies, supplying almost 50 percent of the global vegetable oil, the two countries should have been able to come together to become a leader in the edible oil market.

17/01/2023 (Nasdaq), Singapore - Exports of Malaysian palm oil products for Jan. 1-15 fell 28.5 percent to 453,771 tonnes from 634,618 tonnes shipped during Dec. 1-15, cargo surveyor Societe Generale de Surveillance said on Tuesday.

18/01/2023 (Bangkok Post) - The government remains bullish on the price prospects of domestic fresh palm nuts, although local production and demand and global palm oil prices remain highly volatile.

17/01/2023 (Dawn), Karachi - In a bid to avert any shortage of ghee/cooking oil in Ramazan, the Ministry of Industries (MoI) and the State Bank of Pakistan (SBP) on Monday agreed to remove bottlenecks for speedy clearance of 385,000 tonnes of palm oil stuck at customs bonded warehouses due to non-retiring of documents.

17/01/2023 (Daily Sabah) - Türkiye's Yalova Municipality launched a campaign to encourage the public not to throw away used cooking oil, instead asking them to hand over 5 liters of used oil to the municipality to receive a new 1 liter of sunflower oil as part of its zero waste project.

16/01/2023 (The Star Online), Bangi - The strategic cooperation with Indonesia to fight the anti-palm oil lobby will be able to put pressure on the European Union (EU), says Malaysian Palm Oil Board (MPOB) director-general Datuk Dr Ahmad Parveez Ghulam Kadir.

16/01/2023 (Malay Mail), Kuala Lumpur - Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) rebounded from last week’s decline to end marginally higher today, as bargain hunting emerged due to the recent sell-down following a sluggish export pace, dealers said.

16/01/2023 (The Sun Daily), Kuala Lumpur - The Malaysian Palm Oil Board (MPOB) has denied allegations of bureaucracy bogging down the licensing renewal process for oil palm fruit dealers (DFs), noting that the process would be immediate if there have been no changes to the business entity or the ownership of the premises licensed.