Archived News

31/07/2014 (GreenBiz.com) - Palm oil is the most widely used vegetable oil in the world. A commodity that is worth $50 billion per year, it is found in over half of all packaged goods. Palm oil is also “a key driver of deforestation that accounts for more than 15 percent of worldwide carbon emissions,” according to Ceres. “At least 30,000 square miles of tropical forest...has been cleared to accommodate palm oil plantations in the past two decades.”

31/07/2014 (Borneo Post) - Crude palm oil (CPO) prices started contracting in mid 2012 and continued well into the current financial year under review and at the company level, United Melacca Bhd’s (United Melacca) pre-tax profit increased by six per cent to RM67.29 million compared with RM63.43 million in the preceding year mainly due to gains on disposal of Niro Ceramic Sdn Bhd.

31/07/2014 (Bangkok Post) - The probe on PTT Plc's investment in a palm oil plantation in Indonesia remains under investigation by Thailand's National Anti-Corruption Commission (NACC) at the request of PTT. The company seeks to find out if the investment decision was made by executives for their personal benefit.

31/07/2014 (Alliance News) - New Britain Palm Oil Ltd Wednesday reported strong growth in both profit and revenue for the first-half of the year, boosted by higher production, volumes and selling prices.

31/07/2014 (ValueWalk) - Responding to mounting pressure from large corporate customers, global consumers and environmental and social justice organizations, Cargill announced new environmental and social commitments today that signal a potentially significant shift in direction for its palm oil business and more widely for the industry overall. Cargill has stated its intention to eliminate palm oil in its supply chain associated with deforestation, degradation of carbon-rich peatlands or failure to protect Indigenous and other human and worker rights.

31/07/2014 (Sun Daily) - Sarawak Oil Palms Bhd (SOPB) and Pelita Holdings Sdn Bhd (PHSB) have mutually agreed to withdraw a joint venture (JV) agreement, which was signed by both parties on Oct 25, 2011.

31/07/2014 (eco-business.com) - The Philippines is currently a minor producer of palm oil in the Southeast Asian region, but this is set to change with the country recently declaring ambitions to convert some eight million hectares of idle lands across the country into oil palm plantations.

31/07/2014 (The Star) - Going into the second half of the year, many quarters are anticipating the country’s steep palm oil stocks can be reduced considerably – thanks to the nationwide implementation of the B5 biodiesel programme that takes effect this month.

30/07/2014 (Reuters) - Malaysian palm oil futures edged up on Wednesday as weakness in the ringgit stoked some buying interest, although caution ahead of palm export data and selling pressure for the spot month on the benchmark contract put a lid on gains.

30/07/2014 (Reuters)- The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Wednesday.

30/07/2014 (Reuters) - Prices in Europe's vegetable oil market rose on Monday, supported by a firm trend in Chicago soyoil, but with the closure of the Malaysian palm oil markets for a public holiday limiting trade. The global benchmark Malaysian palm oil market was closed for the end of Ramazan celebrations, the Eid al-Fitr holiday, and will stay closed on Tuesday.

30/07/2014 (Natural Products INSIDER) - Cargill, a palm oil importer and producer, committed to a “Policy on Sustainable Palm Oil" today in response to pressure from Greenpeace, Rainforest Action Network and other non-governmental organizations around the world.