Archived News

KUALA LUMPUR: Malaysian palm oil futures extended losses to a third consecutive session on Monday, weighed down by a decline in rival oils although anticipation of lower output and improving demand underpinned the contract.

The Aceh provincial administration has launched a road map that aims to deliver a strategy and policy framework that will guide the province to achieve sustainable palm oil production. Named the Aceh Road Map for Sustainable Palm Oil Development (Aceh SPO road map), the road map aims to increase production but at the same time reduce deforestation.

25/11/2023 (The Star Online), Kuching - Crude palm oil (CPO) exports to India continue to show positive development as the country's demand for CPO grew to six million tonnes, says Deputy Prime Minister Datuk Seri Fadillah Yusof.

26/11/2023 (New Straits Times), Kuala Lumpur - High palm oil inventories in Malaysia and Indonesia will continue to put price pressure on the crude palm oil (CPO) futures on Bursa Malaysia Derivatives next week.

25/11/2023 (The Borneo Post), Sebuyau - Deputy Prime Minister Datuk Seri Fadillah Yusof has called on palm oil smallholders in Sarawak to register for the Malaysian Sustainable Palm Oil (MSPO) certification under the Malaysian Palm Oil Berhad (MPOB).

26/11/2023 (Gulf News), Dubai - The Kuwaiti Ministry of Trade and Industry, in coordination with the Minister of State for Youth Affairs, has announced Ministerial Resolution No. (172) of 2023, introducing a one-year ban on the export of used cooking oil and its waste from Kuwait.

26/11/2023 (New Straits Times), Kuala Lumpur - The production of biojet fuels from empty fruit bunches (EFB) biomass is seen as one of the most important solutions for palm oil producing countries like Malaysia to unlock the biomass potential and at the same time increasing its revenue from exporting more high added-value products, said an expert.

CIMB Group Holdings Bhd is formalising its 2030 climate target for its palm oil sector portfolio, focusing on sustainable palm oil production.

Indian buyers curtailed purchases of palm oil for December and January shipments due to rising prices and as refiners face negative margins after making heavy imports in the past few months, industry officials told Reuters on Thursday.

BMI, a Fitch Solutions company, has revised upward its projection for the price of crude palm oil in 2024 to RM3,515 per tonne from RM3,400 per tonne.

Malaysian palm oil futures declined on Thursday after three consecutive sessions of gains as the contract tracked weakness in Dalian vegetable oils and crude oil, while market participants awaited output data.

Malaysia has maintained its December export tax for crude palm oil at 8% and raised its reference price, a circular on the Malaysian Palm Oil Board website showed on Thursday.