Archived News

17/08/2022 (Nagaland Post) - State government has terminated the Memorandum of Understanding (MOU) with Andhra Pradesh-based M/s Shivasais Oil Palm Private Limited, which was signed in 2014, after the company failed to set up collection centres within the allotted clusters and purchase fresh fruit bunches (FFBs) from the farmers before setting up the mill.

16/08/2022 (China Daily) - Amid rising global commodity prices, Indonesia and Malaysia have expanded their exports, which has helped with recovery from the impacts of the COVID-19 pandemic, according to analysts.

15/08/2022 (The Edge Markets), Jakarta - Palm oil tumbled from a six-week high following a decline in soybeans and on prospects of weakening demand in China.

15/08/2022 (Antara News), Jakarta - Palm farmers are pleased that their product’s value is increasing as they can now produce red palm cooking oil, according to Minister of Co-operatives and Small and Medium Enterprises Teten Masduki.

15/08/2022 (Reuters), Jakarta - Indonesia will set crude palm oil reference price at $900.52 per tonne for the period of Aug. 16-31, up from $872.27 per tonne set for the first half of the month, Musdhalifah Machmud, a senior official at economics ministry said on Monday.

15/08/2022 (Nairametrics) - Palm oil prices reached record highs in 2022, driven primarily by the disruption in the sunflower oil market caused by the Russia-Ukraine war and export restrictions imposed by the Indonesian government. Nigeria, though the fifth-largest producer of palm oil in the world, remains a net importer of the vegetable fat. Given that palm oil is widely used in cooking and manufacturing consumer food products in Nigeria, high prices have stoked consumer inflation and pushed the government to encourage local producers to meet the supply gap. While most of the palm oil is sourced from small farmers supplying to the local market, large producers, such as Presco and Okomu, are well placed to benefit from government support, strong international demand, and high prices.

15/08/2022 (Business Recorder), Singapore - Palm oil faces a resistance at 4,452 ringgit per tonne, it may hover below this level or retrace towards a support at 4,269 ringgit.

15/08/2022 (The Edge Markets), Kuala Lumpur - The crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended lower on Monday (Aug 15) on profit-taking activities, a dealer said.

15/08/2022 (New Straits Times), Kuala Lumpur - Plantation owners have been encouraged to provide retraining and skills improvement to local workers and practice good labour management to ensure a sound long-term work force.

12/08/2022 (The Edge Markets), Kuala Lumpur - Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended higher on Friday — breaking above the recent high of RM4,200 a tonne, supported by stronger soybean oil prices, a dealer said.

15/08/2022 (The Star Online) - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trend higher this week on the expectation of higher palm oil export estimates by cargo surveyors, said a dealer.

13/08/2022 (The Star Online), Mumbai - India's palm oil imports in July fell 10% from a month ago, as refiners ramped up purchases of rival soyoil to take advantage of New Delhi's move to allow duty-free imports of the vegetable oil to calm all-time high prices, a trade body said on Friday.