Archived News

25/12/2007 (The Star Online), Petaling Jaya - Crude palm oil (CPO) futures prices climbed to their highest in a month, supported by high global crude oil prices of above US$93 a barrel and rising wheat prices, which is expected to take acreage away from soybean farmers in the United States.

26/12/2007 (Energy Current) - Palm and soybean oil prices surged to new record highs over the Christmas holidays in Malaysia and Chicago as surging demand for the use of vegetable oils in food and fuel outstrips demand, according to media reports. Palm oil for March contract was trading at MYR 3,080 (US$923.40) on the Bursa Malaysia Derivatives Exchange before sliding to MYR 3,078 (US$922.80) by noon on Dec. 25, surpassing the previous high of MYR 3,068 (US$919.80) in November. The record surge in palm oil prices is backed by a growing demand of the use of the vegetable in products ranging from cosmetics and confectionaries to biodiesel along with supply crunch from recent floods in Malaysia.

26/12/2006 (Bloomberg) - Palm oil prices in Malaysia, the global benchmark, rose to a record today as global demand for vegetable oils for food and alternative fuel outstrips supply.

25/12/2007 (Forbes), Kuala Lumpur - Malaysian crude palm oil (CPO) futures contracts traded on the Malaysian derivatives exchange were at a fresh record Wednesday, supported by high oil and soybean prices, and speculative buying on concerns recent floods may have hurt CPO production.

25/12/2007 (The Hindu Business Line), Mumbai - The new year is unlikely to bring any respite from high prices of vegetable oil. If anything, the upside risk to prices even from the current strong levels is high. Developments in the US, world’s largest producer of soyabean, will be keenly watched.

25/12/2007 (The News, Pakistan), Kuala Lumpur - Malaysian crude palm oil futures rose further on Monday, gaining 1.3 per cent as higher prices of rival soybean oil and lower supplies from plantations hit by floods boosted the market.

20/12/2007 (All Africa.com) - As Christmas approaches the prices of essential commodities have been steadily rising with palm oil hitting the high mark of FCFA 900 a litre, while a 20-littre jerry can is selling at FCFA 17.000, up from FCFA 12.000.

18/12/2007 (The Economic Times), Kuala Lumpur - Malaysia's palm oil output is likely to fall 18 percent this month from November, as floods and heavy rains have inundated plantations is key producing states, industry officials and producers said on Tuesday.

16/12/2007 (Forbes) - The Malaysian government is not concerned with the current high price of crude palm oil (CPO) and expects prices to remain firm going forward, supported by strong demand from China and India, Second Finance Minister Nor Mohamed Yakcop said on Monday.

19/12/2007 (Daily Times, Pakistan), Karachi - In the first 15 days of December, Pakistan imported 68,700 metric tonnes of palm olien that ranked it as the second largest importer of the commodity after China, which imported 213,000 metric tonnes during same period, importers told Daily Times on Monday.

17/12/2007 (The Star Online) - Faced with high operational costs in the production of biodiesel and high crude palm oil (CPO) prices, Carotech Bhd, which also produces phytonutrients for the overseas market, will concentrate on the sales of phytonutrients, which has higher margins.

16/12/2007 (The Star Online), Kuantan - Malaysia has the potential to be the biggest biodiesel producer in the world, Datuk Seri Najib Tun Razak said.