Archived News

04/10/2012 (Reuters) - Malaysian palm oil futures ended up on Wednesday on bargain hunting after prices dropped to their lowest in nearly three years earlier in the session, although traders said the recovery could be short-lived as fundamentals remained weak.

04/10/2012 (The Star) - Palm oil buyers in India are asking for discounts on agreed deals and putting off purchases, hoping a slide in global prices will continue and bring cheaper product as a big demand season approaches, dealers and industry officials said.

04/10/2012 (Moneylife) - The Roundtable on Sustainable Palm Oil (RSPO), a global multi-stakeholder organization and an international certification scheme for sustainable palm oil revealed today that critical markets for palm oil, India and China are steadily progressing in their commitment towards certified sustainable palm oil (CSPO). A shift in awareness regarding the direct linkage of conventional palm oil practices and deforestation is picking up as the footprints of companies in India and China in the global arena are growing at a rapid pace.

04/10/2012 (Hindu Business Line) - Edible oils prices crashed in domestic markets on Wednesday on rumours that palm oil importers are seeking to renegotiate contracts after prices plunged to their lowest levels in almost three years. Palmolein prices breached the level of Rs 500 in domestic market. Activities remained at standstill except few players who took the benefit of lower price by covering a small quantity in ready sale.

04/10/2012 (Economic Times) - The union cabinet may consider allowing import of 1 million tonnes of vegetable oil from October 2012 to November 2013, for subsidised sale, a government source said on Wednesday.

03/08/2012 (Reuters) - Malaysian palm oil futures dived to their lowest in nearly three years on Tuesday, as slowing demand from Asia coincided with a drop in the edible oil's appeal as a substitute for soy oil, with the U.S. soybean harvest progressing at a record pace.

03/10/2012 (Jakarta Globe) - Singapore-listed conglomerate Wilmar Group plans to invest more than $250 million in the construction of a petrochemical refinery in Gresik, East Java.

03/10/2012 (The Star) - Crude palm oil (CPO) futures on Bursa Malaysia plunged below the RM2,300 mark yesterday with analysts expecting prices to bottom out at this level before rebounding in one or two months time, amid signs of the global economic slowdown hurting demand.

03/10/2012 (Borneo Post) - The Federation of Malaysian Consumers Association (Fomca) has highlighted several agricultural concerns arising from Budget 2013, citing issues relating to sustainability in food prices and food security areas.

03/10/2012 (Bernama) - Sime Darby's share price was sharply lower at the end of the morning session today as the diversified conglomerate lost 46 sen or 4.72 per cent to RM9.28.

03/10/2012 (Borneo Post) - Longhouse folk were recently reminded that their idle land when put to proper use might turn out to be ‘goldmines’.

03/10/2012 (The Star) - CIMB Equities Research describes the 25% price slump for crude palm oil (CPO) futures over five weeks was fuelled by speculative selling over fears of a build-up of stocks.