Archived News

19/11/2013 (Bernama) - Palm oil industry players should consider reinvesting in downstream activities that can add value to the local palm oil sector, Deputy Prime Minister Tan Sri Muhyiddin Yassin said Tuesday.

19/11/2013 (Bernama) - HwangDBS Vickers Research expects IOI Corp Bhd's share price to strengthen over the next 12 months on a near-term rebound in crude palm oil (CPO) prices and a pick-up in demand from China and India.

19/11/2013 (Bernama) - Roundtable on Sustainable Palm Oil (RSPO) said global production of certified sustainable palm oil is poised to more than double next year from the current output of nine million tonnes.

19/11/2013 (Bloomberg) - Palm oil retreated for a second day on concern that exports from Malaysia, the world’s second-largest producer, may decline as a rally in the ringgit and weakening crude oil prices curb demand.

18/11/2013 (Borneo Post) - Palm oil prices have risen four per cent this week as data from India and Malaysia showed improving demand. Meanwhile, a possible shortage of coconut oil from the Philippines due to Typhoon Haiyan lifted prices of palm-based substitutes.

18/11/2013 (Borneo Post) - The current vice chairman of US Federal Reserve Janet Yellen assured that the market will continue its stimulus until robust growth returns to the economy. On Friday, Dow Jones Average Index (DJIA) created new high by surpassing 15,900 benchmarks as 10-year bond yield declined. The US budget deficit narrowed while weekly jobless claims dropped moderately. Crude inventories increased steadily and stayed suppressed on the market prices amid lower demands.

18/11/2013 (Hindu Business Line) - Malaysian palm oil futures on Bursa Malaysia Derivatives Exchange ended higher on Friday, after export data signalled improving demand while a possible shortage of coconut oil supply from the Philippines further aided the bullish sentiment. Palm oil prices posted a weekly gain of 3.6 per cent, fuelled by fears that super typhoon Haiyan had caused severe damage to coconut crops in the Philippines, disrupting coconut oil supply from the world's biggest exporter. Exports of Malaysian palm oil products dropped 4.6 per cent in the first half of November, cargo surveyor Intertek Testing Services said, a slight improvement from shipments in the November 1-10 period which fell by a steep 13 per cent. Exports are expected to improve as China is expected to increase purchases to replenish its stocks before their Lunar New Year festival in January.

18/11/2013 (Business Recorder) - A cargo volume of 25,849 tonnes comprising 19,668 tonnes of import cargo and 6,281 tonnes of export cargo inclusive 363 loaded & empty containers (TEUs) was handled at Port Qasim during the last 24 hours on Saturday. The total import cargo of 19,668 tonnes includes 9,900 tonnes of palm oil; 7,210 tonnes of sunflower seed and 2,458 tonnes of containerised cargo.

18/11/2013 (Bernama) - Bangladesh offers huge potential for the establishment of a halal food industry besides serving as a platform for Malaysian companies to penetrate Western and European markets.

18/11/2013 (Bloomberg) - Palm oil dropped on concern that a rally in prices to a two-week high may weaken exports from Malaysia, the world’s second-biggest producer.

18/11/2013 (Jakarta Post) - Palm oil was on the minds of more than 600 delegates from multinational companies, conservation NGOs as well as smallholder representatives from some 30 countries who gathered in the Roundtable on Sustainable Palm oil (RSPO) conference here last week.

18/11/2013 (4-Traders) - The 8th China International Oils and Oilseeds Conference (CIOC) jointly sponsored by Dalian Commodity Exchange (DCE) and Bursa Malaysia Derivatives (BMD) will be grandly held in Guangzhou on November 13 and 14. Attending and addressing the opening ceremony were Chen Yunxian, Deputy Governor of Guangdong Province, Liu Xingqiang, DCE Chairman, Dato' Tajuddin Atan, Chairman of BMD, and YB Dato' Wan Mohammad Khair-il Anuar Wan Ahmad, Chairman of Malaysian Palm Oil Board (MPOB). The opening ceremony was presided over by DCE CEO Li Zhengqiang.