Archived News

03/12/2013 (The Olympian) - U.S. regulators are moving to get rid of unhealthy trans fat from Americans’ diets, but critics are warning that a common replacement, palm oil, is not that much healthier and also is bad for the environment.

03/12/2013 (Nigerian Bulletin) - The Federal Government through President Goodluck Jonathan on Monday at an international conference on palm oil production reiterated its commitment to create 3.5 million jobs through the agricultural value chains of production, processing and marketing by 2015.

03/12/2013 (Bloomberg) - Palm oil fell for a third day to the lowest in a week on speculation that stockpiles in Malaysia, the world’s second-biggest producer, may rise after surveyor estimates showed that exports declined last month.

03/12/2013 (Mongabay.com) - As Wild Burma: Nature's Lost Kingdom airs on the BBC, the forests documented in the series are increasingly being cut down, according to a new report by U.S. NGO Forest Trends. The report alleges that wide swathes of forest are being cleared in ethnic minority areas of Myanmar (also known as Burma), ostensibly for palm oil and rubber plantations. However after the lucrative timber is extracted, the report finds little evidence that the companies involved are serious about establishing plantations.

03/12/2013 (Mongabay.com) - Bumitama Agri, an Indonesian palm oil producer, is breaking the law by clearing forests and developing plantations without the proper licenses, a coalition of NGOs said in a report released on Nov. 21.

03/12/2013 (Premium Times) - The Federal Government says it would supply 73 motorised harvesters at subsidised rates to farmers, to boost oil palm production in the country.

02/12/2013 (Borneo Post) - Malaysian palm oil futures (FCPO) ended higher by 0.45 per cent for the week even though investors booked profits from gains made earlier in the week as it went up to as high as 2,678. Meanwhile, prices were supported by optimism that higher biofuel mandates will encourage edible oil demand and support the tropical oil.

02/12/2013 (Borneo Post) - The US equity market remained vibrant above 16,000 benchmarks while dollar weakened further against European currencies. Last week, gold recovered in a sideways trend but it is prone to bullish bias. Market investors should stay alert for decision on curbing stimulus by US Fed policymakers though no news has been announced yet. The weekly crude inventories continued to increase at three million barrels for the week ended November 23. However, market rebounded on Friday before the week due to short-covering from an almost six-month low.

02/12/2013 (ANTARA News) - Growing demand for Indonesias palm oil and its domination of the world market was an attracting topic in a conference held at the Indonesian Consulate General in Hamburg, Germany, on Saturday.

02/12/2013 (Pakistan Observer) - Import of edible oil in the country including soyabean and palm witnessed decreasing trend during first four months of current financial year as compared to same period of last year. During the period from July-October, 2013, the import of soyabean oil decreased by 20.28 percent and reached at 29,701 metric tons costing US$ 31.488 million. According the data of Pakistan Bureau of Statistics the import of soyabean was recorded at 30,596 metric tons valuing US$ 39.49 million in same period of last year.

02/12/2013 (UkrAgroConsult) - Palm oil prices could hit over a one-year high by March 2014, on strong demand from the biofuel industry, leading analyst Dorab Mistry said on Friday. Prices are rising faster than previously expected and could reach MYR3,000 (USD930) per tonne by next year according to the analyst.

02/12/2013 (The Official Government News Portal of Sri Lanka) - Trade and Commerce Minister Johnston Fernando instructed Consumer Affairs Authority (CAA) officials to conduct an investigation into a complaint that coconut oil available in the market has been mixed with some other oil and take legal action against those involved.