Archived News

10/01/2013 (Bernama) - Malaysia\'s palm oil stocks rose 2.41 per cent to 2.63 million tonnes in December from 2.56 million tonnes recorded in November, the Malaysian Palm Oil Board (MPOB) said today.

10/01/2013 (Bernama) - Share prices on Bursa Malaysia closed lower today amid the lack of fresh leads and some mild profit taking following the recent gains, dealers said.

10/01/2012 (Business Times) - The minimum wage law, which took effect on January 1, is meant to incentivise corporate Malaysia to be less reliant on cheap labour. However, the Malayan Agricultural Producers Association tells Ooi Tee Ching that planters could suffer profit erosion while consumers would face higher food bills if palm oil prices were to fall below RM2,000 a tonne.

10/01/2013 (Oil Voice) - As we know, petroleum stockpiles are high but volatile: a January 4 report from Moody\'s Analytics said that US crude oil inventories fell by 11.1 million barrels for the week ending December 28, obliterating the consensus expectation of a 1.1 million-barrel decline. Conversely, gasoline inventories rose by 2.6 million barrels, slightly above consensus expectations of a 2.2 million-barrel build, and distillate inventories rose even more (by 4.6 million barrels), far surpassing the consensus expectation of a 1.3 million-barrel increase. Overall US oil demand on this basis inched higher by about 35 000 barrels per day (a fraction of 1% of total consumption) for a 12-month growth of 3.1%, making certain that day traders would push prices higher going into New Year trading.

10/01/2013 (Justmeans) - General Mills is reinforcing its long-standing commitment to sustainable sourcing of palm oil. As a buyer of palm oil, the company is working hard to ensure that it does not accept any ingredients or packing materials that may be associated with deforestation.

09/01/2013 (Bloomberg) - Pakistan may double palm oil imports from Indonesia this year as Asia’s third-largest buyer lowers taxes under a free-trade agreement, an industry executive said.

09/01/2013 (Bloomberg) - Palm oil dropped to the lowest level in more than two weeks after a report that buyers in China, the largest consumer of cooking oil, built the biggest-ever stockpiles before the country tightened rules on imports.

09/01/2013 (Hindu Business Line) - Edible oil market witnessed dull trading and mixed trend on second day on lack of demand and bearish Malaysian palm oil futures. Improved arrivals of indigenous seeds for crushing pulled prices of cotton refined oil by Rs 3 and rapeseed oil by Rs 5.

09/01/2013 (The Star) - Plantation stocks fell as sentiment turned cautious, tracking the decline in crude palm oil (CPO) prices on concerns over demand.

09/01/2012 (Bloomberg) - Palm oil exports from Indonesia, the world’s largest producer, may climb about 10 percent to an all- time high this year as output gains to a record and sales of refined products increase, according to an industry group.

09/01/2013 (Bloomberg) - Vegetable oil prices may increase this year relative to oilseed meals used in livestock feed, as stockpiles decline and U.S. government policy supports biofuels demand, Oil World said.

09/01/2012 (Reuters) - Indonesia\'s palm sector, the world\'s largest producer of the edible oil, faces the risk of wildcat strikes this year despite increasing minimum wages, a trade union said on Tuesday, as employers eye redundancies and benefit cuts to fund the hikes.