Archived News

24/04/2013 (Economic Times) - With cheaper import of refined palm oil hitting the business of local vegetable oil refiners, industry body SEA has demanded an increase in the import duty of the commodity to 12.5 per cent.

24/04/2013 (Hindu Business Line) - Barring palmolein and cotton refined oil that ruled steady, all other edible oils declined by Rs 5-15 for 10 kg on Tuesday on due to slack demand that usually exists during the month-end.

24/04/2013 (Reuters) - (The following statement was released by the rating agency). Fitch has affirmed Indonesia-based PT Sinar Mas Agro Resources and Technology Tbk's (SMART) National Long-Term Rating at 'AA (idn)' and revised its Outlook to Positive from Stable.

24/04/2013 (HIndu Business Line) - The Government has ruled out hiking the import duty on edible oils even as domestic solvent extractors have sought an increase in Customs duty on refined edible oils.

24/04/2013 (Jakarta Post) - Indonesia has failed to include crude palm oil (CPO) and rubber as well as their derivative products in the APEC Environmental Goods List.

24/04/2013 (MoneyControl.com) - Emkay Commodity Research has come out with its report on agri commodities. According to the research firm, one can MCX CPO April future contract around Rs 463-464 for the target of Rs 455 with a stop loss of Rs 466.

24/04/2013 (Bloomberg) - Palm oil fell for the third time in four sessions on concern that a decrease in shipments from Malaysia, the world’s largest producer after Indonesia, will boost stockpiles as production recovers from a low-output season.

24/04/2013 (Jakarta Post) - The Indonesian Palm Oil Association (Gapki) has opposed the government’s plan to prolong a two-year forest moratorium, slated to end in May, saying that such an extension would only hamper the expansion of the country’s palm oil sector.

24/04/2013 (Xinhua) - China on Wednesday successfully conducted a first test flight powered by self-developed biofuel made mainly from palm oil and recycled cooking oil.

24/04/2013 (Mongabay.com) - An initiative that aims to improve the social and environmental performance of palm oil production is faltering in its mission by failing to establish strong performance standards on greenhouse gas emissions and pesticide use, argues a new statement issued by WWF, the initiative's biggest green supporter.

23/04/2013 (Hindu Business Line) - Edible oils prices ruled weak on Monday tracking bearish futures markets. Mumbai traders observed an one-day token bandh in support of call given by trade association call against the Local Body Tax. Malaysian palm oil futures extended last week’s loss further on Monday, hitting a four-month low, as volatility in commodities markets overall and losses in soyabean weighed.

23/04/2013 (Business Recorder) - The European vegetable oils market continued to ease on Monday following improved weather in the US coupled with slack demand which pressured the CBOT soycomplex.