Archived News

13/12/2007 (Financial Times) - New Britain Palm Oil is to raise £89m in a London flotation, taking advantage of a surge in demand for cooking oil and biofuels derived from palm trees.

13/12/2007 (Daily Express), Kota Kinabalu - The Federal government should consider revising the rate of the oil palm fruit cess in Sabah as it is unfair for the industry, said Tawau MP Shim Paw Fatt.

12/12/2007 (Daily Times, Pakistan), Jimbaran, Indonesia - Indonesia has no plans to alter the current palm oil export tax scheme, Trade Minister Mari Pangestu told Reuters on Tuesday, dampening expectations for a new scheme early next year.

12/12/2007 (Commodity Online), Kochi - Kerala, popularly known as God’s Own Country these days, originally got the state’s name from the coconut tree. “Kera” in Malayalam language means Coconut and “Alam” means Land; and thus “Keralam” became the Land of Coconut.

11/12/2007 (The Motley Fool) - Malaysia's palm oil output will be less than forecast this year due to ongoing floods in many palm oil producing regions, a Cabinet minister said Tuesday.

11/12/2007 (Bloomberg) - Malaysia, the second-biggest palm oil producer, may revoke some licenses to produce biofuel from the commodity as the surging price of the raw material makes the fuel too expensive to make, a minister said.

11/12/2007 (Business Spectator), Carey Island, Malaysia - The Netherlands has warned it will not renew subsidies for palm-based biofuel until global producers meet its environmental requirements.

10/12/2007 (Food Navigator) - Crude palm oil production is up 4.4 per cent from October in Malaysia, according to the Malaysian Palm Oil Board, but this has not led to a fall in prices amid the current volatility of the crude and soya oil markets.

11/12/2007 (The Economic Times), Jimbaran, Indonesia - Indonesia has no plans to alter the current palm oil export tax scheme, Trade Minister Mari Pangestu told Reuters on Tuesday, dampening expectations for a new scheme early next year. The tax scheme, under which export tax rates are adjusted monthly depending on movements of crude palm oil prices in international markets, was introduced in a bid to contain soaring local palm-oil based cooking oil prices.

11/12/2007 (Business Standard), New Delhi - The customs duty has been reduced by around 50% over a year.

11/12/2007 (Cosmetics design-europe.com) - In answer to growing consumer pressure over sustainable and ethically sourced personal care products, Lush has teamed up with a small soap specialist in the UK to develop what is claimed to be the world's first palm oil-free soap base.

07/12/2007 (The Economic Times), Kochi - The Centre has no immediate plans to ban import of palm oil through Bayport in Kerala or restrict its entry through other South Indian ports, Minister of State for Commerce Jairam Ramesh said today.