Archived News

15/02/2014 (Reuters) - India's palm oil imports in January fell to their lowest since September, data from the Solvent Extractors' Association of India (SEA) showed on Friday, largely due to a seasonal drop in demand for the tropical oil that solidifies in winter.

15/02/2014 (Hindu Business Line) - Edible oil prices rose sharply on Friday tracking bullish futures markets. On the Bombay Commodity Exchange, baring groundnut oil all other edible oils rose by ₹5-13 for 10 kg. Imported soya oil increased by ₹13 and palmolein by ₹9 respectively.

15/02/2014 (Business Recorder) - The withdrawal of two major Statutory Regulatory Orders (SROs) granting sales tax exemption on the import of crude oil and edible oil to the tune of Rs 150 billion per annum would not contribute to improving the revenue collection. Sources told Business Recorder on Friday that a SRO of the FBR has granted sales tax zero-rating on the import of crude oil having revenue impact of Rs 90 billion per annum.

15/02/2014 (Borneo Post) - Wilmar International Ltd (Wilmar), the biggest single buyer of crude palm oil (CPO) produced in the state has given a notice that it will stop buying oil produced from palms planted in areas of ‘high carbon stock’ and peat swamp after 2015.

15/02/2014 (Business Recorder) - Friday's Rotterdam vegetable oil prices at 1700 GMT.

14/02/2014 (The Star) - Academician Tan Sri Emeritus Professor Dr Augustine Ong Soon Hock is proof that it’s never too late to expand the mind and discover new things. At 80, the country’s palm oil research pioneer continues to challenge himself to improve the chemistry and technology of palm oil and promote the palm oil industry.

14/02/2014 (Bernama) - Malaysia's economy, which expanded by 5.1 per cent in the fourth quarter of last year, supported by private sector demand and higher exports, chalked up a full year 4.7 per cent growth from 5.6 per cent in 2012, despite lingering fiscal uncertainties.

14/02/2014 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets on Friday.

14/02/2014 (Bernama) - Sarawak may lose some RM400 million in sales tax revenue a year from oil palm products following the decision of a multinational refinery company's refusal to buy crude palm oil (CPO) from mills in the state.

14/02/2014 (Jakarta Post) - The Indonesian Palm Oil Producers Association (Gapki) is seeking government support to deal with trade challenges affecting the industry, including anti-dumping duties levied by the European Union (EU).

14/02/2014 (Reuters) - Malaysian palm oil futures ended at a six-week-high on Thursday, extending gains into a third straight session, as stronger soy markets in the U.S. and China signalled a pick-up in food and fuel demand for the tropical oil.

14/02/2014 (PTI) - Groundnutoil regained smartly at the Vashi oils and oilseeds wholesale market here today due to renewed demand from stockist and retailers.