Archived News

06/05/2023 (The Tribune India) - INDIA imports 55-60 per cent of its edible oil requirement. The international, and hence domestic, prices were on an upward swing during 2021-22 due to several factors. The edible oil prices in the international market have been shrinking for the past six months, but the downtrend trend has not got reflected in domestic prices. Even bumper crops of groundnut, soyabean and mustard did not result in price cuts. The Centre’s intervention is set to bring some relief. The industry representatives have been asked to ensure that the maximum retail price is reduced with immediate effect and the benefit of duty cuts is passed on to consumers. Companies have decided to reduce the prices of cooking oil by up to 6 per cent. A leading firm has already announced a cut of Rs 15-20 per litre across variants.

06/05/2023 (Jakarta Globe), Jakarta - The Indonesian Retailer Association, or Aprindo, mulls suing the government if the promised subsidies aimed at keeping cooking oil price low aren’t paid.

05/05/2023 (Channel News Asia), Kuala Lumpur - Malaysia's palm oil inventories at the end of April are forecast to drop to their lowest level in 11 months as domestic use rises amid flat production, a Reuters survey showed on Friday.

04/05/2023 (Business World India) - Companies producing edible oil have decided to reduce costs of cooking oil by up to 6 per cent after the government advised that the maximum retail price (MRP) of cooking oil be lowered in keeping with the reduction in the commodity’s international rates.

04/05/2023 (Business Standard) - The Centre on Thursday asked edible oil companies to cut the prices of cooking oils in line with the fall in global prices for the benefit of consumers.

05/05/2023 (The Hindustan Times) - The Centre on Thursday reviewed edible-oil prices, asking sellers and processors to cut retail rates immediately.

04/05/2023 (Nasdaq), Jakarta - Indonesia will narrow the scope of crude palm oil (CPO) products traded on a planned exchange it hopes to launch by June, a regulator said on Thursday.

03/05/2023 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures extended early gains on Tuesday, recouping losses from last week after the market suffered its deepest drop in seven months on weak demand amid increased Indonesian supply.

04/05/2023 (Live Mint), New Delhi - The decline in the price of edible oil should be passed on to consumers expeditiously, Union food and public distribution secretary Sanjeev Chopra on Thursday told the leading industry representatives during a meeting.

04/05/2023 (Business Wire), Seoul, South Korea - -Dabeeo Inc., a geospatial information technology company based on AI, has announced its plan to introduce AI analysis technology using ultra-precision (30cm-level) satellite images to monitor palm tree plantations in Malaysia.

02/05/2023 (Asian News Network), Jakarta - As oil palm plantations can be a significant contributor to rural livelihoods in Indonesia, the government has been capitalizing on this commodity and strengthening Indonesia’s position as the global leader in palm oil production by expanding plantations. As land for new plantation investment has become scarce in Kalimantan and Sumatra, plantation developers are looking east to acquire land in Papua.

2/5/2023 (The Jakarta Post), Jakarta - As oil palm plantations can be a significant contributor to rural livelihoods in Indonesia, the government has been capitalizing on this commodity and strengthening Indonesia’s position as the global leader in palm oil production by expanding plantations. As land for new plantation investment has become scarce in Kalimantan and Sumatra, plantation developers are looking east to acquire land in Papua.