Archived News

04/07/2013 (Hindu Business Line) - Edible oils market turned hot late evening on strong demand ahead of festival amid firm futures market on Wednesday. Groundnut oil rose by Rs 20 and cotton refined oil by Rs 4 for 10 kg each tacking bullish trend in Saurashtra.

04/07/2013 (The Star) - CB Industrial Product Holding Bhd has secured a contract to build a palm oil mill valued at RM40.5mil in Kunak, Sabah.

04/07/2013 (CPI Financial) - RH Capital is a special-purpose vehicle incorporated as the financing conduit for an Islamic sale-and-leaseback transaction, backed by three oil-palm plantations and two palm-oil mills located in Sarawak. The lessees, which are subsidiaries of Tiong Toh Siong Holdings Sdn Bhd (one of the main holding companies within the Rimbunan Hijau Group), had sold their beneficial interests in the assets to RH Capital. In turn, RH Capital had leased the assets back to the respective lessees; the financial obligations under the Sukuk Ijarah are met via lease payments from the lessees.

03/07/2013 (Reuters) - Malaysian palm oil futures fell to a six-week low on Tuesday as concerns over rising production in the second half of the year offset expectations that stocks in the world's No.2 producer could ease in June.

03/07/2013 (Bloomberg) - Palm oil fell to the lowest level in six weeks on concern that a weakening Indian currency may curb imports by the world’s largest consumer.

03/07/2013 (Bloomberg) - Palm, the most-consumed cooking oil, will probably decline 4.5 percent in the next two weeks to the lowest level since May as it remains in a downward trend, according to a technical analysis by RHB Investment Bank Bhd.

03/07/2013 (Hindu Business Line) - Barring cotton refined oil which decline by Rs7 for 10 kgs all other edible oils remain unchanged on thin trade on Tuesday. Lower closing of Malaysian Palm oil futures and unprecedented kharif sowing this year on satisfactory rainfall weigh on overall sentiment. Malaysian Palm oil futures closed lower by 5, 4 and 6 ringgits. Moral was weak said sources.

03/07/2013 (Daily Star) - Traders yesterday fixed the prices of sugar and edible oil for the month of Ramadan starting next week.

03/07/2013 (The Star) - Fitch Ratings expects plantation heavyweight IOI Corp to maintain the current operating profit even if crude palm oil prices (CPO) are to stabilise at RM2,500 a tonne.

03/07/2013 (Financial Express) - HUL is seeing a sequential weakening of market volume growth in its categories. The trend of significant slowdown in more discretionary categories like skin care continues. With price growth also coming off, market growth in many categories risks slipping into single digits.

03/07/2013 (Economic Times) - A weak rupee has not hit Indian edible oil consumers hard because global prices of soyabean and palm oil have softened in the last 10 days when the rupee fell sharply against the dollar. Prices of imported soybean oil declined to $960 per tonne from $1,045 per tonne during the period. Similarly, crude palm oil has dropped by $30 per tonne in the same period to $810 per tonne.

02/07/2013 (Bernama) - Malaysia's palm oil exports to Vietnam stood at about 147,000 tonnes from January to April this year, an increase of 64 per cent over the same period of last year, Plantation Industries and Commodities Minister Datuk Seri Douglas Uggah Embas said, Monday.