Archived News

25/07/2013 (Jakarta Post) - The Malaysian government will extend its palm biodiesel programme to states in the country's northern region this October and to Pahang, Kelantan and Terengganu states next January.

25/07/2013 (Business Standard) - Eight edible oil refinery projects, four large ones, that were scheduled to commence commercial production this financial year have deferred their plans or reduced operating capacity to avoid losses due to unfavourable duty structures which makes refining business unviable. Therefore, an investment worth Rs 147 crore is stuck in various refinery projects across India.

25/07/2013 (Borneo Post) - The recent launch of Johor’s biodiesel programme has been viewed as a positive catalyst in the plantations sector as the programme marks the country’s renewed commitment in rolling out its biodiesel plans which is crucial in absorbing excess palm oil and could potentially serve as a foundation to support the recent rise in crude palm oil (CPO) prices.

25/07/2013 (PRNewswire) - A multinational team of scientists from the Malaysian Palm Oil Board (MPOB) and Orion Genomics today announced the publication of two papers in the journal Nature outlining the genome sequencing of the oil palm plant and the identification of a single gene, called Shell, that is responsible for increasing the plant's yield of oil by 30 percent. The fruit and seeds of the oil palm are the source of nearly one-half of the supply of edible vegetable oil worldwide and provide one of the most promising sources of biofuel. Scientists from the Malaysian Palm Oil Board (MPOB), which sponsored the research, and Orion Genomics authored both papers.

25/07/2013 (Business Recorder) - Wednesday's Rotterdam vegetable oil prices at 1600 GMT.

25/07/2013 (Borneo Post) - Kulim Bhd (Kulim) is expected to see muted earnings until the completion of the acquisition of another 20 per cent in New Britain Palm Oil Ltd (NBPOL) for 165.05 million pounds (RM812.30 million).

25/07/2013 (The Star) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.

25/07/2013 (Business Recorder) - Some Collectors of Customs on Tuesday rectified an error by collecting 16 percent standard rate of Federal Excise Duty (FED) on the import of edible oil instead of 17 percent. It is learnt that the customs in Karachi is collecting the accurate rate of 16 percent FED on the import of edible oil whereas Model Customs Collectorate Peshawar is still reportedly charging 17 percent FED on the import of the said item.

24/07/2013 (Indonesia Investments) - Indonesian exports of crude palm oil (CPO) in June 2013 grew about 29 percent to 1.62 million ton compared to the same month last year. Although production of CPO in Indonesia slowed down in June, higher demand for Indonesia's CPO is met because there are still sufficient amounts of stockpiles. A high official at the Indonesian Palm Oil Association (Gapki) said that stockpiles in 2012 grew to 5 million tons as global demand for the commodity weakened sharply amid international economic turmoil.

24/07/2013 (Hindu Business Line) - Weak sentiment continued in edible oils market on Tuesday on poor physical demand and bearish futures. Due to heavy rain in the city, transportation services were disturbed and brokers - traders stayed away from fresh activities.

24/07/2013 (Reuters) - A planned venture between Wilmar International and Noble Group Ltd to develop palm plantations in Indonesia's Papua region has stalled just months after it was announced as it failed to win approval from authorities.

24/07/2013 (FoodNavigator-USA.com) - As the pressure to source sustainable palm oil has intensified, several big names in the US from Kroger and Walmart to McDonald’s and Dunkin Donuts have said that by 2015, they will only use RSPO (Round Table for Sustainable Palm Oil) certified products.