Archived News

27/10/2023 (Reuters), Jakarta - Indonesia on Friday flew its first commercial flight using palm oil-blended jet fuel, as the world's biggest producer of the commodity pushes for wider use of biofuels to cut fuel imports.

27/10/2023 (Free Malaysia Today), Jakarta - Indonesia’s flag carrier will test its first commercial flight using jet fuel mixed with palm oil to reduce carbon emissions.

29/10/2023 (The Borneo Post), Bintulu - The number of Sustainable Palm Growers Cooperatives (KPSMs) in Sarawak is still not encouraging, said Deputy Prime Minister Datuk Sri Fadillah Yusof.

29/10/2023 (Dawn), Karachi - The nine per cent jump in the rupee’s value against the dollar since Sept 5, sliding world prices and falling transportation costs have not brought any big price relief for the consumers in retail markets in nearly two months despite a downward trajectory in wholesale rates.

26/10/2023 (The Star Online), Kuala Lumpur - The government does not intend to abolish the windfall profit levy (WPL) on the palm oil industry at the moment, said the Ministry of Finance (MoF).

26/10/2023 (Nasdaq) - Malaysian palm oil futures extended gains on Thursday, buoyed by strength in rival edible oils and a softer ringgit, although lacklustre exports and weaker crude oil prices limited gains.

26/10/2023 (The Edge Malaysia), Kuala Lumpur - Oil palm player Sarawak Plantation Bhd has secured a RM40 million Islamic facility to partly finance the development costs of its oil palm plantations throughout Sarawak.

26/10/2023 (Biofuels International) - Cargill is set to become one of the first, large-scale US suppliers to exclusively offer palm oil certified by the Roundtable for Sustainable Palm Oil (RSPO).

26/10/2023 (Mintec Global) - In recent developments as of 25th October, the Crude Palm Oil (CPO) CIF Rotterdam, as assessed by Mintec under the code CPOR, now stands at $884.50 per metric tonne, marking a significant decrease of $16.00 per metric tonne. This price decline is attributed to the increasing stock levels and a notable reduction in demand.

25/10/2023 (The Edge Malaysia), Kuala Lumpur - The Malaysian Palm Oil Council (MPOC) has bagged total estimated potential sales of RM182 million during a visit by several African oils and fats companies recently.

25/10/2023 (World Grain), London - There’s been a slight decline in oilseeds prices, alongside a larger drop for soy oil, as harvests pressure the market in the face of slow demand.

25/10/2023 (Nigerian Tribune) - CURRENTLY, Nigeria occupies the fifth position in the league of palm oil-producing countries, with 1.5 per cent or 1.03 million metric tonnes of the world’s total output, according to the United States Department of Agriculture (USDA). Edo State is already home to two of the biggest oil palm companies in Nigeria – Okomu plc and Presco plc, but Governor Godwin Obaseki’s push for more investment led to the injection of $531.2m by investors to develop greenfield oil palm projects across various locations in the state. These projects include developments by Agro-allied Resources and Processing Nigeria Limited (ARPN), with a 12,000ha plantation; Saro Oil Palm with over 10,000ha integrated farm and Fayus, with 5,000 ha farm, among others. Governor Obaseki of Edo State is set to return Nigeria to world’s leading producer of palm oil. Edo palm oil programme which engages more than 8 palm oil companies have invested in palm oil production in Edo. Governor Obaseki has started the project of expanding Edo State palm oil development to boost Nigeria’s palm oil production in the global 73.23 million metric tonnes.