Archived News
24-08-2023
Far East’s 2Q net profit drops 92% on lower average CPO, palm kernel prices
24/08/2023 (The Edge Malaysia), Kuala Lumpur - Far East Holdings Bhd’s net profit shrank 91.56% to RM5.92 million in the second quarter ended June 30, 2023 (2QFY2023) from RM70.18 million a year earlier, amid lower average crude palm oil (CPO) and palm kernel (PK) prices as well as lower fresh fruit bunch production.
24-08-2023
El Nino may cause CPO prices to hit, even exceed RM4,000 per tonne in 2H2023 — Sime Darby Plantation MD
23/08/2023 (The Edge Malaysia), Kuala Lumpur - Crude palm oil (CPO) prices may rise to, or even surpass RM4,000 per tonne in the second half of 2023 (2H2023) due to the El Nino phenomenon, compared to the current level of RM3,000 per tonne, according to Sime Darby Plantation Bhd managing director Datuk Mohamad Helmy Othman Basha.
24-08-2023
Palm sinks to 1-week low on weaker rival oils, rising supply
23/08/2023 (Business Recorder), Singapore - Malaysian palm oil futures fell to a one-week trough on Wednesday, dragged down by softer rival oils and increased output from South Peninsular palm oil mills.
24-08-2023
SEA concerned over increasing dependence on edible oil import, deficient rainfall
23/08/2023 (The Hindu Business Line) - The Solvent Extractors’ Association of India (SEA) has expressed concerns over the deficient rainfall in the country and the increasing dependence on import of edible oils.
23-08-2023
Malaysia keeps September crude palm oil export duty at 8%
22/08/2023 (The Star Online), Kuala Lumpur - Malaysia maintained its export tax for crude palm oil at 8% for September and increased its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.
23-08-2023
India vegetable oil industry group to explore palm oil trade with Thailand
22/08/2023 (The Edge Malaysia), New Delhi - A group of Indian vegetable oil importers and refiners will explore new business opportunities in Thailand's palm oil sector.
23-08-2023
SEA delegation to explore collaboration potential with Thai palm oil industry
22/08/2023 (The Hindu Business Line) - A delegation of the Solvent Extractors’ Association (SEA) of India will be visiting Thailand to explore the potential for collaboration with the palm oil industry in Thailand.
23-08-2023
Sarawak Plantation reports 45% drop in 2Q profit amid lower CPO, PK prices
22/08/2023 (The Edge Malaysia), Kuala Lumpur - Sarawak Plantation Bhd’s net profit fell 45% to RM16.56 million or 5.93 sen per share in the second quarter ended June 30, 2023 (2QFY2023), from RM30.01 million or 10.75 sen per share a year ago, as operating profit dropped and revenue declined amid lower realised average selling prices of crude palm oil (CPO) and palm kernel (PK), despite higher sales volume.
23-08-2023
Palm oil erases Monday’s gains on weaker rivals
22/08/2023 (Business Recorder), Singapore - Malaysian palm oil futures finished nearly 2% lower on Tuesday following a dip in rival edible oils, although strong export data helped limit losses.
22-08-2023
Innoprise profit falls 65% on lower CPO, palm kernel prices; pays 2.25 sen dividend
21/08/2023 (The Edge Malaysia), Kuala Lumpur - Innoprise Plantations Bhd posted a 65.18% decline in net profit for the second quarter ended June 30, 2023 (2QFY2023) to RM10.77 million from RM30.94 million a year prior, mainly due to lower average selling prices of crude palm oil (CPO) and palm kernel (PK).
22-08-2023
Palm rebounds tracking rival oil strength higher, stronger exports
21/08/2023 (Business Recorder), Singapore - Malaysian palm oil futures recovered on Monday mirroring strength in rival edible oils, while firm export data supported sentiment.
22-08-2023
China to Import More Indonesian Palm Oil in 2024: Gapki
21/08/2023 (Jakarta Globe), Jakarta - China will likely purchase 8 million tons of Indonesian palm oil in 2024 after imports suffered a decline amid the Covid-19 pandemic, according to an association of the commodity’s producers.