Archived News

06/09/2013 (Reuters) - Malaysia\'s August palm oil stocks likely grew to their largest level in three months as output outweighed exports, a Reuters survey showed, although healthy demand for the tropical oil kept stockpiles in check.

06/09/2013 (Business Recorder) - The Federal Board of Revenue is likely to restore the facility of input tax adjustment to the ghee and cooking oil industry. Experts told Business Recorder on Thursday that the unilateral withdrawal of the input tax adjustment facility by the FBR to the ghee and cooking oil industry has resulted in confusion for the units while claiming such facility on filing of monthly sales tax returns.

06/09/2013 (Hindu Business Line) - Edible oils witnessed a mixed trend on Thursday with cautious trade tracking volatile Malaysian palm oil futures market which opened weak but later closed higher on expectation of higher demand from India, China and other Asian countries.

06/09/2013 (Bloomberg) - Palm oil advanced as strengthening crude oil prices increased the appeal of vegetable oils as biofuel feedstock.

06/09/2013 (Bloomberg) - Palm oil headed for a fourth weekly advance on speculation that rising demand in India and China may counter a build-up in stockpiles in Malaysia as output expands seasonally in the world’s second-largest producer.

06/09/2013 (The Star) - Plantation stocks rose on Friday as analysts expect crude palm oil (CPO) prices to rise on rising demand for palm oil for energy use amid a decline in inventory.

06/09/2013 (fnbnews.com) - Ruchi Soya Industries Ltd has reaffirmed its commitment to the state of Odisha and promises to be a long-term partner in the development of the state.

06/09/2013 (Reuters) - Plantation company PT Astra Agro Lestari, a unit of PT Astra International, is building a palm oil processing plant worth 100 billion Indonesian rupiah in Central Sulawesi, with a capacity of 30 tonnes of fresh fruit bunches per hour, said Djony Ady, an executive at the company, adding that the factory is expected to start operating next year.

05/09/2013 (Reuters) - Malaysian palm oil futures edged lower on Wednesday, tracking the U.S. soy market that dropped after a U.S. Department of Agriculture report showed yields were not worse than expected.

05/09/2013 (Bloomberg) - Palm oil fell to the lowest level in more than a week after China’s leadership indicated that it chose slower economic growth, boosting concern that demand from the second-largest consumer may be hurt.

05/09/2013 (Business Recorder) - The Federal Board of Revenue has notified tariff concession on the import of 313 items from Indonesia - crude oil, RBD palm oil, palm olein and palm stearin with effect from September 1, 2013 under Indonesia-Pakistan Preferential Trade Agreement. Sources told Business Recorder here on Wednesday that the Indonesia-Pakistan Preferential Trade Agreement has allowed concessionary rate of customs duty on the import of 313 items from Indonesia.

05/09/2013 (Hindu Business Line) - Barring palmolein and rapeseed oil which rose by Rs 5 and Rs 8 for 10 kg respectively, all other edible oils ruled steady tracking weak futures and need-based demand.