Archived News

26/11/2010 (Business Times) - Malaysian palm oil should fall to RM2,600 by June 2011 on higher output in Southeast Asia and a decent soy crop but the pace of decline will be slower than the market expects, thanks to unusually low stocks, a key analyst said today.

25/11/2010 (China Economic Net) - With the development of economic society, China's oils & oilseeds industry is undergoing profound changes: in market scale, China's oils & oilseeds market continues to expand steadily, in the year of 2010/2011, the total edible oil consumption in China reached 24.75 million tons, and the supply and consumption of soybeans in 2010 reached 66.8 million tons and 64.19 million tons respectively; in consumption structure, the bean oil consumption accounts for 40 percent, palm oil 24 percent and rapeseed oil 16 percent; in import and export trade patterns, in recent years China has become a major importer of oils & oilseeds. In 2009, edible vegetable oil directly imported reached 9.5 million tons, accounting for 41 percent of total consumption; moreover, the National Grain and Oils Information Center gave a forecast that in the year of 2010/2011, the soybean import is expected to reach 52 million tons, which will hit a new record high. In the Fifth China International Oils and Oilseeds Conference held the other day, Liu Xingqiang, General Manager of Dalian Commodity Exchange, particularized a set of data, which were attached importance to by relevant people in the industry.

25/11/2010 (Agrimoney) - New Britain Palm Oil revealed plans to cash in further on the palm oil rally as the sustainable plantations group unveiled a 42% jump in profits for the first nine months of the year.

25/11/2010 (Bloomberg) - PT Tiga Pilar Sejahtera Food, an Indonesian producer of dried noodles, may spend $175 million to plant oil palm trees and buy a plantation company in Sumatra to tap growing demand for the commodity.

25/11/2010 (Mongabay.com) - ndustrial interests are threatening to undermine Norway's billion dollar partnership with Indonesia, potentially turning the forest conservation deal into a scheme that subsidizes conversion of rainforests and peatlands for oil palm and pulp and paper plantations, logging concessions, and energy production, claims a new report from Greenpeace.

24/11/2010 (Benzinga.com) - GreenPalm is urgently calling on the household and personal care industry to support the sustainable production of palm kernel oil, a common ingredient in cosmetics and home care products.

24/11/2010 (Mondovisione) - Singapore Exchange today welcomed the listing of Mewah International Inc (“Mewah”), one of the largest palm oil processors in the world by capacity and the second largest in Malaysia, on the Mainboard under the ticker symbol of “Mewah”.

24/11/2010 (Biofuels Digest) - In Hawaii, controversy is brewing over the Hawaiian Electric Co. (HECO) and subsidiary Maui Electric Co.’s plans to import Malaysian palm oil to produce biodiesel for the state. Since the project was first announced in 2007, it has been met with opposition from environmental groups concerned about the lack of sustainability of the palm oil.

24/11/2010 (IIFL) - With 99% of India's annual palm oil requirement being met through imports, the government of India is actively considering to subject more of acreage under oil palm cultivation. This measure is expected to bring down India's palm oil import bill by a significant amount. Agriculture secretary of Indian agriculture ministry, P.K. Basu, chaired a recent meeting on oil palm cultivation on this account. Total annual edible oil imports of India have jumped to over 8 million tons. Of this 80% is palm oil.

24/11/2010 (Commodity Online), Kuala Lumpur - Heavier monsoon rains caused by La Nina phenomenon this year continued to hit Malaysia’s key oil palm region of Sabah, according to country’s weather office.

24/11/2010 (Bloomberg) - Palm oil futures climbed the most in more than two weeks after concerns eased about an escalation in clashes between South and North Korea, boosting commodity prices, and as soybean oil gained on dry South American weather.

24/11/2010 (Bloomberg) - When United Nations climate negotiators meet next week in Mexico and debate protecting tropical rainforests, Golden Agri-Resources Ltd. and rival oil- palm growers in Southeast Asia will be paying attention.