Archived News
14-09-2023
Govt asks NBR to rationalize sugar, cooking oil duties
13/09/2023 (Dhaka Tribune) - The Commerce Ministry has asked the National Board of Revenue(NBR) to further rationalize duty rates imposed on sugar and cooking oil imports, said Commerce Minister Tipu Munshi in the parliament on Tuesday.
14-09-2023
Govt unlikely to raise import tariffs on edible oils
14/09/2023 (Financial Express) - The government us unlikely to raise the import duties on refined edible oils, despite the sharp drop in domestic prices and low-priced imports, official sources said.
14-09-2023
Malaysia's planters can expect stronger demand rest of 2023
13/09/2023 (New Straits Times), Kuala Lumpur - The local plantation sector is expected to see a stronger demand throughout the remaining months in 2023, according to Public Investment Bank Bhd (PublicInvest)
14-09-2023
Palm rises after seven-session slide as Chicago soyoil recovers
13/09/2023 (Business Recorder), Jakarta - Malaysian palm oil futures climbed on Wednesday, snapped a seven-session losing streak, with prices underpinned by a recovery in Chicago soyoil.
13-09-2023
El Nino predicted to support CPO price
13/09/2023 (The Star Online), Petaling Jaya - Despite the uptrend in the palm oil stockpile, most analysts continue to maintain their crude palm oil (CPO) price assumption between RM3,800 and RM4,000 per tonne for the 2023-2024 period.
13-09-2023
VEGOILS-Palm ends lower for 7-day following weaker rival oils
12/09/2023 (Nasdaq), Jakarta - Malaysian palm oil futures closed down on Tuesday, declining for seven sessions straight, following weakness in rival oilseeds.
13-09-2023
Palm oil prices to climb by at least US$100 within next four to six months, says Mielke
12/09/2023 (The Edge Malaysia), Kuala Lumpur - Crude palm oil (CPO) prices are expected to climb by at least US$100 within the next four to six months, according to ISTA Mielke GmbH (Oil World) executive director Thomas Mielke.
13-09-2023
Sabah govt urged to review palm oil sales tax
12/09/2023 (The Borneo Post), Kota Kinabalu - Sabah Palm Oil Planters Association’s Executive Advisor, Datuk Yap Wun Fook, has urged the Sabah government to review the 7.5 per cent palm oil sales tax to ensure that the tax system aligns with fairness principles.
13-09-2023
MPOA: Dire need for oil palm replanting
12/09/2023 (The Star Online), Petaling Jaya - There is an urgent need to ensure the sustainability of the palm oil industry in Malaysia and maintaining a strong level of output for competitive reasons.
12-09-2023
Malaysia's end-Aug palm oil stocks jump to 7-month high
11/09/2023 (The Star Online), Kuala Lumpur - Malaysia's palm oil stocks at the end of August rose to their highest since January, higher than market expectations, data from the Malaysian Palm Oil Board (MPOB) showed on Monday.
12-09-2023
MP Evans dragged down by lower palm oil prices
11/09/2023 (Investors Chronicle) - Crude palm oil (CPO) prices soared in the aftermath of Russia’s invasion of Ukraine as concerns raged about vegetable oil supply. While prices remain elevated against historic levels, a 27 per cent year-on-year slowdown in the average mill-gate price to $755 (£604) per tonne dented Indonesia-focused palm oil producer MP Evans’ (MPE) revenue by over a fifth. A low-cropping period and a doubling of fertiliser costs also hurt, as the gross margin fell by a painful 21 percentage points to 17 per cent and operating profits contracted by 62 per cent.
12-09-2023
Malaysia’s palm oil stocks up 22.54pc in August
11/09/2023 (Malay Mail), Kuala Lumpur - Malaysia’s total palm oil stocks surged by 22.54 per cent to 2.12 million tonnes in August 2023 from 1.73 million tonnes in the preceding month, according to the Malaysian Palm Oil Board (MPOB).