Archived News

13/05/2013 (Hindu Business Line) - Malaysian palm oil futures on Bursa Malaysia Derivatives ended on Friday at their highest in two weeks as stocks eased below the key 2-million-tonne mark in Malaysia. But the gains were capped by a fall in exports in the first ten days of May and a strengthening local currency. Industry regulator Malaysian Palm Oil Board showed inventory levels at the end of April 11.3 percent lower at 1.93 million tonnes against the previous month's 2.17 million tonnes. However, exports of palm group of oil products during May 1-10 slid 16.7 per cent to 3,80,047 tonnes compared with the same period in April. The ringgit (MYR) dipped to a near 5-month low on Monday after that it surged against the dollar following the ruling coalition's win in Malaysia's general elections. Gains in the palm complex could be capped by falling energy prices and a strengthening dollar.

13/05/2013 (Borneo Post) - Crude palm oil futures (FCPO) on Bursa Malaysia Derivatives rebounded this week due to lower palm oil stocks which spurred technical buying and short covering in the market.

13/05/2013 (Business Recorder) - One ships arrived at Port at load/offload palm oil at LCT on May 10, 2013.

13/05/2013 (Jakarta Post) - West Kalimantan Governor Cornelis says that his administration will build and repair roads to benefit business in the province.

13/05/2013 (Borneo Post) - The Dow Jones markets and Asia equities have been climbing in bullish sentiments due to improvement in US economy. Fed chairman reiterated of continual stimulus at US$85 billion monthly and low interest rates to suppress the unemployment rate below 6.5 per cent.

13/05/2013 (The Guardian) - A ban on the clearing of tropical forests in Indonesia is on the verge of being extended in a historic deal that could protect some of the world's most threatened habitats.

13/05/2013 (mongabay.com) - Indonesian palm oil giant Golden Agri-Resources (GAR) is continuing to reduce deforestation under its 2011 forest conservation policy despite ongoing forest destruction by other palm oil producers in the sector, finds a new assessment by Greenomics, an Indonesian activist group. However the report finds GAR\'s operations are not completely deforestation-free.

13/05/2013 (mongabay.com) - The Roundtable on Sustainable Palm Oil (RSPO) has evicted Indonesian palm oil giant Dutapalma Nusantara for violating key principles for sustainability.

13/05/2013 (Market Watch) - Nigeria's agriculture ministry has attracted $8 billion in foreign investment and aims to boost that to just over $10 billion by 2015, the country's minister of agriculture said this week.

11/05/2013 (Reuters) - Malaysian palm oil futures climbed to their highest in two weeks on Friday as stocks eased below the key 2-million-tonne mark in the world's No.2 producer, but gains were capped by a surprise fall in exports in the first ten days of May.

11/05/2013 (Hindu Business Line) - Positive palm oil data from Malaysia pushed up imported palmolein and soyabean refined oil by Rs 2 and Rs 4 for 10 kg each in Mumbai on Friday. Higher arrivals of mustard seeds pulled down rapeseed oil by Re 1. Selling pressure resulted in sunflower expeller refined oil easing by Rs 10, while sunflower refined oil, groundnut oil and cotton oil ruled unchanged. Sentiments remained positive on firm Malaysian palm oil futures and weak Indian currency which made imports costly.

11/05/2013 (Bloomberg) - Palm oil rose to the highest level in almost two weeks before the release of data from Malaysia which may show that inventories dropped to a nine-month low.