Archived News

9/10/05 KUALA LUMPUR (Reuters) - Malaysia’s palm oil output is expectedto have risen 5.2 percent in September over August, slightly lower thanearlier forecasts of 5.7 percent, but the figure is still a record,plantations said.

6/10/2005 KUALA LUMPUR b(Reuters) - Malaysia, the world's top palm oilproducer, will make a palm oil-based fuel a mandatory additive at petrolpumps by 2008, a newspaper said Thursday, part of government efforts tocut its diesel subsidy bill.With crude oil prices expected to remain high, Malaysia is seeking toencourage national use of a biofuel that is made from 95 per cent dieseland 5 per cent processed palm oil.Legislators are expected to pass a law next year to introduce the newproduct, and give motorists a year to try it out before making itmandatory, Plantation Industries and Commodities Minister Peter Chin toldThe Star.The head of the government-run Malaysian Palm Oil Board told Reuters lastmonth that biofuel would be ready at domestic pumps and for export byOctober 2006.Biofuels are taking on new importance worldwide as the cost of petroleumproducts rise and as countries seek to cut emissions to meet the U.N.Kyoto Protocol. Burning the biofuel is considered to be carbon- dioxideneutral and does not require emissions rights.Malaysia, a net exporter of oil and gas, heavily subsidies pump prices ofpetrol and diesel, putting a serious strain on its budget as the cost offossil fuels has surged.The government estimates that it will spend 16 billion ringgit ($4.2billion) on fuel subsidies in 2005, a 34 per cent jump from last year.Malaysia consumes up to 190,000 barrels per day (bpd) of diesel and gasoil. It produces less than 14 million tonnes of palm oil a year, of whichmore than 12 million are exported.Adding 5 per cent biofuel to diesel at pumps will help cut 500,000 tonnesof diesel a year, or about 10,000 bpd, officials have said.

07/10/05 Chennai , (The Hindu) - MALAYSIA palm oil companies are lookingat India to invest in plantations and oleo chemical industry.

06/10/05 ((The Star) - MALAYSIAN Palm Oil Association (MPOA) welcomesnews that Procter & Gamble (P&G) is investing in palm oil production toreduce its reliance on crude oil by up to 20%.

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9/10/05 PEKAN, (Bernama) -- Felda settlers will receive RM350 each in theform of an incentive allowance before the end of this month, Deputy PrimeMinister Datuk Seri Najib Tun Razak said Sunday.

6/10/05 Mumbai , (The Business Line) - VEGETABLE oil imports aggregatedto a high of 45.5 lakh tonnes ( (lt) in the first 11 months of the oilyear 2004-05, up from 38.8 lt during the corresponding period previousyear. The big story is the incredible jump in soyabean oil arrivals pastseveral months. Imports have more than doubled to 17.6 lt from 7.3 ltduring the corresponding period in 2003-04.

05/10/05 (The Star) - A steady uptrend in crude palm oil (CPO) pricesfrom last month has lifted sentiment on plantation stocks. Also, there arehopes that palm oil-based biodiesel - new demand in the making - willsupport CPO prices at a high level in the future.

4/10/05 Chennai , (Business Line) - Indonesia's palm oil exports to Indiaincreased by over 30 per cent during January-May this year, while itsshipments to other nations rose 46.5 per cent.

04/10/05 KUALA LUMPUR (Dow Jones)--Malaysia's exports rose abetter-than-expected 12.5% in August as companies shipped more electricalgoods, electronics and crude oil, offsetting a decline in palm oil sales,official data released Tuesday show.

29/09/05 PETALING JAYA, (Bernama) -- The palm oil industry is one of theMalaysia's greatest success stories and will remain so as long as it keepspace with the latest technological advancements in oils and fats.

4/10/05 New York (FT.com) - Procter & Gamble is turning to palm oil andcoconut plantations in Asia as an alternative ingredient to make its Tidelaundry detergent and Head & Shoulders shampoos, as the world’s largestconsumer goods company makes a strategic bet on the future cost of crudeoil.