Archived News

06/07/2022 (The Borneo Post), Kuching - The Ministry of Plantation Industries and Commodities (MPIC) has to come to terms with a potentially steady decline of palm-based biofuel imports from the European Union (EU).

04/07/2022 (The Edge Markets), Kuala Lumpur - PublicInvest Research has maintained its “neutral” rating on the plantation sector and said Malaysian palm oil exporters may be facing stiffer competition in the coming months as Indonesia has proposed to raise palm oil export quotas last Friday due to excessive palm oil inventories in the world’s largest producing country.

05/07/2022 (The Malaysian Reserve) - THE Ministry of Plantation, Industries and Commodities (MPIC) will step up effort to promote palm oil before being “eliminated totally” as a European Union (EU) biofuel source in 2030.

05/07/2022 (Business Recorder) - Malaysian palm oil futures extended losses on Tuesday to hit their lowest levels since September, dragged down by concerns that Indonesia’s larger export quota would further hurt demand for Malaysian palm oil amid high inventories.

PETALING JAYA: The current contraction in the price of crude palm oil (CPO) is justifiable, given that it grew too fast compared with the previous year and seemingly has peaked as the market assesses the impact of the Russian-Ukraine war and inflation.

KUALA LUMPUR/SINGAPORE (July 4): Palm oil slumped more than 7% to the lowest close since December after top producer Indonesia announced an increase in export quotas in an attempt to cut bloated domestic inventories.

KUALA LUMPUR (July 4): Analysts are mixed on the plantation sector in view of the impact of supply concerns due to the prolonged war in Ukraine, Indonesia’s proposed palm oil export quota hike and excessive inventories.

ALOR STAR: "The global crude palm oil price has been plunging since last month, but the price of bottled cooking oil has increased. So, will the retail price of unsubsidised cooking oil become cheaper soon?"

SINGAPORE: Palm oil may stabilize around a support at 4,588 ringgit per tonne, and test a resistance at 4,742 ringgit thereafter.

Sanctions-hit Russia has reduced its sunflower oil export tax sharply after changing the formula it uses for calculating it to support shipments while its rouble currency hovers near multi-year highs, the agriculture ministry said on Saturday.

BENTONG: The subsidised cooking oil quota of 55,000 metric tonnes per month or 660,000 metric tonnes a year has been sufficient so far, says Deputy Plantation Industries and Commodities Minister Datuk Seri Dr Wee Jeck Seng (pic).

PETALING JAYA: Comprehensive audits of cooking oil manufacturers and repackaging premises will be carried out nationwide in a move to tackle the exploitation of subsidies and irregularities in supply, says Datuk Seri Ismail Sabri Yaakob.