Archived News

Edible oil industry body SEA has written to the Union food minister Piyush Goyal to increase import duty on refined palm oil to 20 per cent from the current 12.5 per cent in order to protect domestic refiners.

SINGAPORE: Palm oil may retest a resistance at 4,128 ringgit a tonne, a break below which could open the way towards 34,176 ringgit.

Edible oil prices are likely to soften further in the coming months, due to a decline in global prices and robust domestic crop prospects, a food ministry official said on Wednesday.

KARACHI: Consul General of Malaysia Herman Hardynata Bin Ahmad has said that the Free Trade Agreement (FTA), signed in 2008, needs to be reviewed to boost the existing trade between Pakistan and Malaysia.

Hyderabad: In the wake of its vast applications and commercial value, the Telangana government has set a target of bringing 20 lakh hectares under oil palm cultivation in the State in the next three years.

SÃO PAULO, BRAZIL — Brazil’s mandatory blend of biodiesel will remain at 10% until March 31, 2023, Reuters reported, citing the Mines and Energy Ministry.

CHICAGO: Chicago soybean and grain futures ended higher on Wednesday, as traders looked to even up their positions before the market closes for the U.S. Thanksgiving holiday and ahead of a short trading day on Friday, analysts said.

24/11/2022 (Business Recorder), Karachi - Consul General of Malaysia Herman Hardynata Bin Ahmad has said that Malaysia and Pakistan, in addition to having several multilateral agreements as members of UN, OIC and D-8, have also signed 20 bilateral agreements including a Free Trade Agreement (FTA) but this 15-year-old FTA, which was inked in 2008, needs to be reviewed with a view to further improve the existing trade ties between the two brotherly countries.

24/11/20222 (Hellenic Shipping News) - Fitch Ratings expects average crude palm oil (CPO) prices to be significantly lower in 2023, as industry output is likely to be higher. Lower prices should weaken Asian producers’ margins and EBITDA, and result in higher leverage. However, EBITDA should be supported by higher fruit yields and oil output. The free cash flow (FCF) profiles of producers should also benefit from a release of working capital.

24/11/2022 (New Straits Times) - THE Advanced Biotechnology and Breeding Centre (ABBC), a division of the Malaysian Palm Oil Board (MPOB), is now the largest oil palm germplasm collection centre in the world for conservation and research based on oil palm breeding and biotechnology.

23/11/2022 (The Edge Markets) - Batu Kawan Bhd and its 47.74%-held Kuala Lumpur Kepong Bhd (KLK) reported lower earnings for the fourth quarter ended Sept 30, 2022 (4QFY2022), mainly dragged by significantly lower investment holding and manufacturing profits.

23/11/2022 (Malay Mail) - Kuala Lumpur Kepong Bhd’s (KLK) net profit dropped to RM2.17 billion in the financial year ended September 30, 2022 (FY2022) from RM2.26 billion posted in FY2021 due to investment losses.