Archived News
20-10-2022
Palm oil climbs to seven-week high on flood fears in top growers
19/10/2022 (The Edge Markets), Kuala Lumpur - Palm oil advanced to the highest intraday level in seven weeks on worries that storms and floods in major growers could disrupt supply, while investors are also on alert for a potential import tax hike in top buyer India.
20-10-2022
MPOC supports enforcement action against ‘No Palm Oil’ labels
19/10/2022 (The Sun) - The Malaysian Palm Oil Council (MPOC) has voiced its support for enforcement actions to be taken against supermarkets and outlets displaying and selling products with ‘No Palm Oil’ on their label and packaging.
20-10-2022
India examining proposal to raise palm oil import tax
18/10/2022 (Malaysia Kini) - India is examining whether there is a need to raise palm oil import taxes, government and trade sources said, as part of efforts by the world's biggest vegetable oil importer to help millions of its farmers reeling from lower oilseed prices.
20-10-2022
Varying sustainability standards polarize vegetable oil market
19/10/2022 (The Jakarta Post) - We are now seeing a gradual shift in the global perception of palm oil, which had been blamed as the main driver of deforestation in the past, toward the more balanced view that other vegetable oils and commodities are equally responsible for contributing to climate change and deforestation.
20-10-2022
CPO futures continue to rise on expectation output would be lower due to bad weather
19/10/2022 (The Edge Markets), Kuala Lumpur - Crude palm oil (CPO) futures on Bursa Malaysia Derivatives continued their upward momentum to end higher on Wednesday (Oct 19), on expectation that bad weather would result in lower output of the commodity, a dealer said.
20-10-2022
Palm oil subsidy scheme to seek cabinet approval
20/10/2022 (Bangkok Post) - The Commerce Ministry plans to ask the cabinet shortly to approve the state-sponsored price guarantee scheme for palm oil farmers for the 2022/23 harvest season, while pledging to support crude palm oil exporters.
19-10-2022
India examining proposal to raise palm oil import tax
18/10/2022 (Reuters), Mumbai /New Delhi - India is examining whether there is a need to raise palm oil import taxes, government and trade sources said, as part of efforts by the world's biggest vegetable oil importer to help millions of its farmers reeling from lower oilseed prices.
19-10-2022
Unilever engaging with palm oil supplier accused of abuses
18/10/2022 (The Edge Markets), London/Jakarta/New York - Unilever is working with an Indonesian palm oil supplier accused of land-rights abuses and environmental harm to try to fix the problems highlighted by campaign groups and address the grievances of local communities.
19-10-2022
Mosta recommends RM60m strategic fund to enhance oil palm sustainability and tech enhancements
18/10/2022 (The Edge Markets), Kuala Lumpur - The Malaysian Oil Scientists and Technologists Association (Mosta) has proposed the establishment of a strategic fund to incentivise productivity improvements, technological developments and innovations across the oil palm industry, including the use of biomass for energy supply.
19-10-2022
Sustainability pledges help Indonesia produce palm oil with less deforestation
18/10/2022 (Mongabay), Jakarta - Sustainability commitments and greater scrutiny of supply chains is helping bring down deforestation rates associated with palm oil in Indonesia, a new analysis suggests.
19-10-2022
VEGOILS-Palm oil climbs to six-week high on weak ringgit, supply woes
17/10/2022 (Nasdaq), Kuala Lumpur - Malaysian palm oil futures rose for a third consecutive session to its highest in six weeks on Tuesday, helped by the decline in the ringgit and concerns over global edible oil supply.
19-10-2022
Palm jumps to highest close in almost seven weeks
19/10/2022 (Hellenics Shipping News) - Malaysian palm oil futures jumped on Tuesday to their highest close in almost seven weeks, helped by a weakening ringgit and concerns over global edible oil supply.