Archived News
12-07-2022
'How will import duty cut on two edible oil varieties help boost supply'
Amid demands for reducing import duty on rice bran oil and olive pomace oil, the government has asked edible oil associations to explain how the move will help boost domestic availability.
12-07-2022
Ukrainian SFS exports hit record high, but demand drops
Ukraine's sunflower seed (SFS) exports have increased sharply since March following the Russian invasion that resulted in disruption to the country's seed crushing and sunflower oil (SFO) exports, but a further increase is in question because of cooling demand and falling prices.
12-07-2022
Cooking oil shortage over in 2 months, says Annuar
PETALING JAYA: The anti-inflation task force is to take action to cut smuggling of subsidised cooking oil to neighbouring countries, panel chairman Annuar Musa said today.
11-07-2022
China lockdowns overshadow palm oil outlook despite slow output
05/11/2022 (The Star Online), Nusa Jaya - The global outlook for palm oil remains uncertain, with strict pandemic policies in major importer China weighing on demand, while high energy prices and a slowdown in output provide support, leading industry analysts say.
08-07-2022
Indonesia considering cutting palm oil export levy to spur shipments
08/07/2022 (The Star Online), Jakarta - Indonesia is considering cutting its palm oil export levy to encourage more shipments, a cabinet minister said on Thursday, another move to spur exports after a ban designed to protect domestic cooking oil supplies saw palm oil inventories swell.
08-07-2022
Buyers are seeking to renegotiate palm oil contracts as CPO price slumps
07/07/2022 (The Edge Markets), Kuala Lumpur - The rapid fall in crude palm oil prices in the past month has prompted contract renegotiations between oil traders and buyers who are taking the deliveries now, as an increasing number of buyers declined to take delivery of the vegetable oil that were locked in previously at much higher prices.
08-07-2022
Palm oil halts slump as China’s stimulus plan aids commodities
07/07/2022 (The Edge Markets) - Palm oil snapped a four-day losing streak as commodities including crude oil and metals jumped on China’s US$220 billion stimulus plan.
08-07-2022
Palm oil stocks to reach 7-month high
07/07/2022 (The Malaysian Reserve) - MALAYSIA’S palm oil stocks are expected to rise by 10.5% month-on-month (MoM) to 1.68 million tonnes at the end of June 2022 due to higher output and lower exports, said CGS-CIMB Securities Sdn Bhd (CGS-CIMB Research).
08-07-2022
Agencies told to find mechanism to reduce cooking oil retail price
07/07/2022 (The Star Online), Putrajaya - The special task force to address inflation has instructed agencies involved to find a mechanism to reduce the retail price of cooking oil following the decline in crude palm oil prices.
08-07-2022
Remove additional tax burden on oil palm producers, MP tells govt
07/07/2022 (Free Malaysia Today), Petaling Jaya - The government has been urged to abolish two windfall taxes imposed on palm oil producers in the face of rising costs confronting the industry.
08-07-2022
Indonesia sees B40 biodiesel mix absorbing extra 2.5 million tonnes of palm oil
07/07/2022 (Today Online), Jakarta - Senior Indonesian minister Luhut Pandjaitan estimated on Thursday that an additional 2.5 million tonnes of palm oil could be absorbed by the domestic market if the country raised the amount of palm oil in its biodiesel mix to 40per cent (B40).
08-07-2022
President reviews progress of red palm cooking oil research in Medan
07/07/2022 (Antara News), Jakarta - President Joko Widodo (Jokowi) visited the Palm Oil Research Center (PPKS) in Medan, North Sumatra, to monitor the progress of research on using red palm oil as cooking oil during a working visit to the province.