Archived News

20/09/2011 (Hindu Business Line) - The Andhra Pradesh Government has agreed to increase direct procurement component to 50 lakh tonnes (lt) in 2011-12 as against 24 lt in the last procurement season. It also agreed to set up additional godown space to store 50 lt.

20/09/2011 (The Edge Malaysia) - Sime Darby Bhd saw RM1.8 billion erased from its market capitalisation yesterday after its closed 30 sen lower to RM7.70, the lowest in 13 months on some foreign selling and also concerns about the outlook for equities.

19/09/2011 (Bernama) - Farmers, smallholders and those involved in the palm oil industry are enjoying better incomes as the global demand for palm oil products continued to grow this year, said Plantation Industries and Commodities Minister Tan Sri Bernard Dompok.

19/09/2011 (Bloomberg) -- Palm oil may rally next year as demand for biofuels cuts soybean oil supply and a potential reversal in monetary policy in China and India boosts demand, according to Dorab Mistry, director of Godrej International Ltd.

19/09/2011 (Tempo Interactive) - Palm oil company Asian Agri is considered to have manipulated taxes. The Development Finance Comptroller (BPKP) found Rp1.29 trillion in state losses in a tax embezzlement case linked to the company.

19/09/2011 (Jakarta Globe) - Swiss food giant Nestle will resume purchases of palm oil from Sinar Mas Agro Resources and Technology following an 18-month halt after Smart made improvements to abide by Nestle’s guidelines for responsible environmental practices.

19/09/2011 (Allafrica.com) - The oil palm nursery occupies several hectares of newly cleared forest and fallow land in Sierra Leone. The nursery manager says that by 2012 he'll have 540,000 oil palm seedlings here, enough to plant over 3,000 hectares. By 2017, the plan is to establish oil palm over 40,000 hectares that have been leased by a foreign investor for 45 years, with a possible extension of 21 more.

19/09/2011 (Fox Business) - Unilever PLC (UL) Friday said it hasn't resumed palm oil purchases from Golden Agri-Resources Ltd. (E5H.SG) in Indonesia after Nestle S.A. (NESN.VX) said it placed an order following progress by the producer on environment and sustainability.

19/09/2011 (MSN) - Crude palm oil futures prices declined by Rs 2.60 to Rs 500.20 per 10 kg today, due to profit-booking by speculators, driven by a fall in spot demand.

19/09/2011 (Pakistan Times) - Indonesia has resumed talks on a preferential trade agreement with Pakistan with an expectation to conclude the long-negotiated deal within days.

19/09/2011 (RenewableEnergyWorld.com) - The Southeast Asian nation has launched a tariff system that could spur the development of renewable technologies including biomass, biogas, mini-hydro and solar.

19/09/2011 (Commodity Online) - Palm oil futures in India fell on Friday on profit booking by the speculators due to sluggish domestic demand.