Archived News

20/08/2008 (The Economic Times), New Delhi - The edible oil industry has come to a standstill after crude palm oil crashed on Tuesday to 50% of this year’s top price. The trade is in disarray as buyers in top importers like India, Pakistan and China are reneging on contracts while the market bottoms out.

20/08/2008 (The Hindu), New Delhi - Falling global palm oil prices is a welcome news for consumers but not for importers who are now seeking a re-adjustment in their overseas contract to ward off losses, Solvent Extractors Association said on Tuesday.

19/08/2008 (Bernama), Kuala Lumpur - Usage of Envo diesel, a palm-based biofuel, can start this year if the crude palm oil price (CPO) remains at below RM3,000 a tonne, Deputy Minister of Plantation Industries and Commodities A. Kohilan Pillay said today.

19/08/2008 (The Star Online), Petaling Jaya - IOI Corp Bhd posted an impressive 42% jump in pre-tax profit to RM856mil for its fourth quarter ended June 30 against RM602mil a year ago, backed by overall strong crude palm oil (CPO) prices, good earnings from the manufacturing of oleochemicals and property business.

19/08/2008 (The Financial Express) - The unexpected slump in commodities prices seen over the last couple of weeks is having its fallout all across. The latest to join the bandwagon are edible oil traders from India who are re-negotiating and seeking deferment of some of the palm oil import contract with Malaysian sellers to ward off loses due to sudden fall.

18/08/2008 (Greenpeace), Riau, Indonesia — In a rare piece of good news for Indonesia's forest, a regional governor has announced an interim ban on deforestation in Riau, one of the areas currently worst affected by rapid deforestation. The ban, especially if made permanent, is also good news for the climate.

18/08/2008 (Bernama), Jakarta - Malaysia and Indonesia, being two major palm oil producers, are in a unique position to offer the world a new resource-based sustainable development model by 2025 with intensive R&D on palm oil and its derivatives, says an internationally renown expert on sustainable development.

18/08/2008 (Red Orbit) - MALAYSIA may see its position as the world's leading oleochemical producer in terms of market share undermined by the high prices of natural gas, industry players say.

17/08/2008 (Bloomberg) - Indonesia, the world's biggest palm oil producer, expects demand for the vegetable oil to remain strong after prices of the commodity slumped in the past month, Trade Minister Mari Pangestu said.

15/08/2008 (The Star Online), Singapore - Buyers from China and India, the world’s biggest vegetable oil importers, have cancelled or renegotiated around 800,000 tonnes of palm oil deals in the past few weeks as prices slump, dealers said yesterday.

15/08/2008 (The Edge Daily), Kuala Lumpur - The local stock market fell sharply in thin volume on Friday, with the KLCI posted double-digit declines. A steep fall in certain key blue chips, notably Bumiputra-Commerce and plantation stocks dragged the benchmark index and broader market lower.

15/08/2008 (The Edge Daily) - The government wants to see the palm oil industry reduce the imports of chemical fertilisers by 30%, which will result in savings of RM1.5 billion within the next five years.