Archived News

04/10/2013 (Economic Times) - The government today approved implementation of the National Mission on Oilseeds and Oil Palm (NMOOP) during the 12th Plan Period and has allocated Rs 3,507 crore for the purpose.

04/10/2013 (Bernama) - Malaysian Palm Oil Board (MPOB) has appointed Datuk Ar Wan Mohammad Khair-il Anuar Wan Ahmad as its chairman, effective Sept 11, succeeding Tan Sri Shahrir Abdul Samad.

04/10/2013 (Bloomberg) - Palm oil dropped for a second day to a one-week low on speculation that increasing output from Malaysia, the second-largest producer, will add to stockpiles and as a decline in crude oil prices cut its appeal as biofuel.

04/10/2013 (Bloomberg) - Okomu Oil Palm Plc (OKOMUOIL), a Nigerian processor of the commodity, fell to the lowest since June 25 as global prices retreated, prompting concern that the company’s earnings will drop, according to Asset & Resource Management Co.

04/10/2013 (Business Recorder) - The Karachi Port handled 124,433 tonnes of cargo comprising 88,617 tonnes of import cargo and 35,816 tonnes of export cargo including 3,821 loaded and empty containers during the last 24 hours ended at 0700 hours on Thursday. The total import cargo of 88,617 tonnes comprised 19,850 tonnes of containerised cargo; 318 tonnes of general cargo; 38,982 tonnes of bulk cargo: 31,993 tonnes of coal; 2,971 tonnes of DAP; 4,018 tonnes of wheat and 29,467 tonnes of oil/liquid cargo.

04/10/2013 (The Sun) - IOI Corp Bhd group executive director Datuk Lee Yeow Chor, who is the eldest son of the plantation group's executive chairman and CEO Tan Sri Lee Shin Cheng, has taken over the helm of Unico-Desa Plantations Bhd.

04/10/2013 (Bloomberg) - Felda Global Ventures Bhd. (FGV), the world’s third-largest manager of oil palm plantations, may buy land in Southeast Asia and expand into Africa with 2.6 billion ringgit ($814 million) remaining from its share sale.

03/10/2013 (Reuters) - Malaysian palm oil futures ended lower on Wednesday, tracking weak soy markets, as investors fretted about surging global supply of the competing oilseed that could snatch demand away from the tropical palm.

03/10/2013 (Bloomberg) - Palm oil dropped after a three-day advance amid expectations that rising production will expand a glut of the commodity used in food and fuels.

03/10/2013 (Jakarta Post) - As many as 90 companies from seven countries are participating in a three-day palm oil industry exhibition in Indonesia, which starts on Wednesday in Medan, North Sumatra.

03/10/2013 (Bernama) - Alliance Research has maintained a neutral call on IOI Corp Bhd as it views the mandatory general offer (MGO) of the remaining 60.4 per cent stake in Unico-Desa Plantations Bhd amounting to RM1 billion as a pricey acquisition with no immediate earnings accretion.

03/10/2013 (Radio New Zealand) - One of the farmers who has been campaigning for tighter controls on palm kernel stock feed imports is applauding the Government's latest move in that direction.