Archived News

14/07/2022 (The Sun Daily), Putrajaya - The palm oil industry has agreed in principle to make adjustments to reduce prices of cooking oil in stages, based on the current market price of crude palm oil, said Special Task Force on Jihad Against Inflation chairman Tan Sri Annuar Musa.

14/07/2022 (Thai PBS World) - Retail prices of one-litre bottles of palm oil at department stores and super markets have reduced from 69-70 baht to 64-65 baht, in response to a request from the Internal Trade Department.

14/07/2022 (Free Malaysia Today), Petaling Jaya - With oil palm plantations entering the seasonal peak production period from August to October, Indonesia’s temporary freeze on workers entering Malaysia could not have come at a worse time.

14/07/2022 (New Straits Times), Kuala Lumpur - Crude palm oil (CPO) prices are expected to remain elevatedin the second half of this year (H2 2022) on supply concerns and improved demand outlook, according to MIDF Research.

15/07/2022 (Reuters) - Indonesia plans to bring in new rules on its palm oil export levy and incentives soon in an attempt to boost exports and empty storage tanks, its deputy finance minister Suahasil Nazara told Reuters. The government is still mulling the rate of the new levy and the incentives, which will be applied temporarily to tackle a crisis over ballooning inventories, Suahasil said, adding that new regulations are expected this weekend or early next week.

14/07/2022 (New Strait Times), Kuala Lumpur - Domestic palm oil stocks are projected to rise by 21.4 per cent month-on-month (MoM) to two million tonnes by end-July 2022, on higher output and lower exports.

14/07/2022 (The Star Online), Petaling Jaya - Crude palm oil (CPO) prices are expected to come under more pressure, as Malaysia’s palm oil stockpile is likely to increase further in the coming months.

13/07/2022 (Malay Mail) - Crude palm oil (CPO) prices are expected to remain elevated in the second half of this year (H2 2022) on supply concerns and improved demand outlook, according to MIDF Research.

13/07/2022 (Malay Mail), Tampin - Independent smallholders numbering 174,347 covering 621,269 hectares (ha) nationwide have received the Malaysian Sustainable Palm Oil (MSPO) certification as of June 30.

13/07/2022 (Reuters) - Indonesia's trade surplus likely widened to $3.52 billion last month, boosted by the lifting of a three-week palm oil export ban, according to economists polled by Reuters, although some still expect the gap to shrink later in the year.

13/07/2022 (The Economic Times) - Malaysian palm oil futures plunged more than 6% on Wednesday due to weak July exports and as fears of renewed COVID-19 curbs in China sparked a selloff in rival Dalian oils.

13/07/2022 (Business Recorder), Singapore - Palm oil may stabilize around a support at 3,900 ringgit per tonne, and test a resistance at 4,090 ringgit thereafter.