Archived News

27/08/2008 (Bloomberg) - Palm oil prices have reached a ``bottom'' and will be supported by declining supplies and increasing demand for biodiesel, Derom Bangun, chairman of the Indonesia Palm Oil Association, said.

27/08/2008 (The Jakarta Post, Jakarta) - Palm oil companies operating in Indonesia have opposed any moratorium on forest and peat land conversions, saying it will play havoc with the industry and the national economy.

27/08/2008 (The Jakarta Post, Jakarta) - Crude palm oil (CPO) price movements have been nothing short of a roller-coaster ride. From a mid-June 2006 price of around US$400 per ton, it shot up 350 percent to $1,400 per ton in Rotterdam before plunging 37 percent to the current level.

27/08/2008 (Asia Pulse), Kuala Lumpur - Malaysian palm oil exporters are not facing a severe default on contracts despite the slow demand for the commodity over the past few months, the Malaysia's Palm Oil Refiners Association said Monday.

27/08/2008 (Daily Times), Kuala Lumpur - Kuala Lumpur Kepong Bhd, Malaysia’s third-largest listed planter, plans to grow oil palm at 10,000 hectares every year, mostly in Indonesia, to meet global demand for the vegetable oil, a top official said.

27/08/2008 (Ceylon Daily News) - Sri Lanka has achieved a high coconut oil production of 84,788 mt in last year recording a significant increase of 324 per cent after 22 years.

26/08/2008 (Bernama), Kuala Lumpur - Malaysian palm oil producers should provide comprehensive traceability report of their production to comply with the European Union's new directive on renewable energy to better penetrate the market there.

26/08/2008 (The Star Online), Kuala Lumpur - Fima Corp Bhd hopes to achieve 25% growth in revenue to RM220mil for the financial year ending March 31 (FY09), backed by higher contribution from its oil palm plantation in Indonesia.

25/08/2008 (Mongabay.com) - Facing land scarcity at home and environmental complaints, Malaysian palm oil producers should look overseas to expand operations, a high-ranking Malaysian agricultural minister said Monday.

26/08/2008 (Bloomberg) - Palm oil, the world’s most consumed vegetable oil, must decline to 2,200 ringgit ($653) a tonne in the next few weeks for demand to rebound, said Dorab Mistry, director at Godrej International.

25/08/2008 (Voa News) - Oil palms are grown throughout West and Central Africa, but the development of the palm oil industry has been slow, despite a thriving market. A project sponsored by the United Nations Industrial Development Organization is about to change the palm oil industry in Cameroon and Nigeria. Voice of America English to Africa Service reporter Divine Nytaryike in Douala, Cameroon says palm oil is a common ingredient in traditional dishes in West and Central Africa. It is cheaper than vegetable oil and can also be used to make soap and pomade.

25/08/2008 (The Daily Green) - Palm oil is a widely used vegetable oil used in food products, such as Oreos and Cheez-Its, and also soaps and other personal care products. But while you've been casually enjoying your processed snack foods, palm oil has gained a less than stellar environmental reputation.