Archived News

02/02/2024 (Malaysia Mail), Kuala Lumpur - The second meeting of the Ad Hoc Joint Task Force (JTF) on the European Union Deforestation Regulation (EUDR) held in Putrajaya today decided to establish dedicated teams and timeline to advance the work under each workstream.

01/02/2024 (New Straits Times) - THE time is ripe for Malaysian palm oil producers to seize the untapped the potential found in the biomass industry, which is set to be a game-changer for the country in the coming years.

01/02/2024 (Chem Analyst News) - In a recent decree issued by the trade ministry, Indonesia has established its palm oil reference price at $806.40 per metric ton for the period of February 1-29. This marks an increase from the previous reference price of $774.93. Alongside this, the export tax and levy for Crude Palm Oil (CPO) have been set at $33 per ton and $85 per ton, respectively.

01/02/2024 (Chem Europe) - The conclusion of the Seed funding round marks a significant success for the Hamburg-based deep-tech startup COLIPI GmbH as it embarks on the year 2024. Investors include the High-Tech Gründerfonds (HTGF), the Innovationsstarter Fonds Hamburg (IFH), Nidobirds Ventures GmbH, and Stefan De Loecker. With this, COLIPI moves a significant step closer to its vision of “Fermenting Renewable Carbon For Generational Life Quality”.

01/02/2024 (Indian PSU) - With an aim to increase the oil palm and boost the Crude Palm Oil production to 11.20 lakh tonnes by 2025-26, the Government of India launched National Mission for Edible Oils- Oil Palm in August 2021.

01/02/2024 (Business Standard) - India would step up efforts to boost local oilseed production, the finance minister said on Wednesday, as part of plans to cut pricey imports of vegetable oils from the world's top edible oil producers in Asia, South America and the Black Sea region. India, the world's biggest vegetable oil importer, spent a record $20.8 billion on its edible oil purchases in the fiscal year to March 2023.

31/01/2024 (New Straits Times), Kota Kinabalu - Sabah will collaborate closely with the federal Plantation and Commodities Ministry to develop the downstream oil palm industry.

31/01/2024 (Deccan Herald) - Its net profit stood at Rs 246.16 crore in the year-ago period. Total income declined to Rs 12,887.60 crore in the third quarter of this fiscal from Rs 15,515.55 crore in the corresponding period of the previous year, according to a regulatory filing.

31/01/2024 (XM), Singapore - Malaysian palm oil futures declined for a third consecutive session on Wednesday, amid weaker rival oils and lacklustre Chinese economic data, but the contract still logged a monthly gain.

31/01/2024 (The Edge Malaysia), Jakarta - Indonesia has set its palm oil reference price at US$806.40 (RM3,814) per metric tonne for Feb 1-29, an increase from US$774.93, a trade ministry decree showed on Wednesday.

31/01/2024 (New Straits Times), Kota Baru - A woman was nabbed by Kelantan Domestic Trade and Cost of Living Ministry enforcement officers yesterday for keeping 2,358kg of subsidised 1kg cooking oil and sugar.

31/01/2024 (XM), Kuala Lumpur - Cargo surveyor Societe Generale de Surveillance (SGS) estimates exports of Malaysian palm oil products for January at 1,166,973 metric tons, according to LSEG Source: Reuters 31/01/2024 (XM), Kuala Lumpur - Cargo surveyor Societe Generale de Surveillance (SGS) estimates exports of Malaysian palm oil products for January at 1,166,973 metric tons, according to LSEG