Archived News

04/06/2013 (Bloomberg) - Palm oil fell on speculation that demand may slow from India, the world’s biggest buyer, and as Malaysia’s currency advanced the most in almost a month against the dollar, reducing the appeal of ringgit-denominated futures.

3/06/2013 (EarthTechling) - Often disguised as vegetable oil, palm oil exists in almost every processed food and many personal care products on the market today. Almost all palm oil used today originates in Indonesia and Malaysia. Although these countries depend on the revenue from exportation, their zeal to produce more of this oil is decimating vast areas of pristine rainforest.

03/06/2013 (Jakarta Post) - Ending months of uncertainty, President Susilo Bambang Yudhoyono of Indonesia made a courageous decision last week to extend the country’s forest moratorium. The new Presidential Instruction adds another two years of protection for over 43 million hectares of primary forests and peat land — an area the size of Japan.

03/06/2013 (The Nation) - The cooking oil and ghee industry, in its budget proposals for 2013-14, has recommended the new structure of income tax and federal excise duty (FED) to the Federal Board of Revenue, urging the authorities to abolish Section 65D of Income Tax Ordinance, 2001 with a view to avoid revenue loss to existing ghee manufactures.

03/06/2013 (The Star) - Recent studies conducted by the Ohio State University have found that a natural compound of vitamin E called alpha-tocotrienols may play a role in reducing stroke-related damage.

03/06/2013 (Times of India) - Keeping in view the volatile price trend in global bullion market, the government has raised the import tariff value of gold to USD 459 per 10 grams, while it has been slashed at USD 737 per kg for silver imports.

03/06/2013 (Business Recorder) - he report of Saturday's activities of Karachi Port Trust (KPT) was not received.

01/06/2013 (Reuters) - Malaysian palm oil futures rose on Friday as traders bet on slowing production, notching a fourth straight weekly gain, although lacklustre exports weighed.

01/06/2013 (Bloomberg) - Africa is the next frontier for the world’s producers of palm oil, a food ingredient that environmentalists blame for destruction of rain forests in Southeast Asia. Indonesia is the world’s biggest producer of palm oil but the government there is trying to reduce deforestation by banning development of new plantations on primary rain forest. With the world’s appetite for palm oil increasing, plantation developers are targeting territory in sub-Saharan Africa.

01/06/2013 (Reuters) - Malaysian diversified group Wah Soeng Berhad plans to invest $744 million to develop a palm oil agro-industrial complex including a 180,000-hectare palm plantation in the Republic of Congo, the country's agriculture minister said.

01/06/2013 (Bloomberg) - Sime Darby Bhd. (SIME), the world’s biggest listed palm oil producer, reported a 21 percent drop in third-quarter profit as prices of the commodity declined.

01/06/2013 (Jakarta Post) - Plantation firm PT Provident Agro (PALM) plans to increase its crude palm oil (CPO) production this year despite uncertainty in the world’s CPO prices.