Archived News
22-06-2022
Malaysia to scrap subsidies for some cooking oil products
21/06/2022 (Business Times) - MALAYSIA will abolish subsidies for certain cooking oil products from Jul 1, its government announced on Tuesday (Jun 21), in what it said was a move to ensure domestic supply and stabilise prices.
22-06-2022
Palm oil import sans from Indonesia: FBR abolishes 2pc additional duty
22/06/2022 (Business Recorder) - ISLAMABAD: The Federal Board of Revenue (FBR) has abolished 2 per cent additional customs duty on the import of edible palm oil for shipments originating from all sources except Indonesia from June 10, 2022, and June 30, 2022. The FBR has issued SRO 805(I)/2022 here on Tuesday to amend the SRO 845(1)/2021 pertaining to the imposition of the regulatory duty.
21-06-2022
Palm oil sinks further into bear market as more losses expected
(June 20): Palm oil fell deeper into bear market territory on concern that surging Indonesian exports will challenge cargoes from Malaysia, with the most active contract sliding below RM5,000 for the first time since January.
21-06-2022
Malaysia’s June 1 – 20 palm oil exports fall 10.5 pct –ITS
Exports of Malaysian palm oil products for June 1 – 20 fell 10.5 percent to 738,368 tonnes from 824,589 tonnes shipped during May 1 – 20, cargo surveyor Intertek Testing Services said on Monday.
21-06-2022
Crude, palm oil rates fall from record highs, but FMCG firms rule out price cuts
Packaged consumer goods makers said they will not slash prices despite the correction in two crucial commodities - crude and palm oil - but will instead slow the pace of price increases.
21-06-2022
Indonesia issues palm oil export permits for over 1.4 mln T- official
JAKARTA, June 21 (Reuters) - Indonesia, the world's top palm oil exporter, has issued permits to export 867,682 tonnes palm oil products under its Domestic Market Obligation (DMO) scheme as of Monday, Trade Ministry official Oke Nurwan said.
21-06-2022
Palm oil targets 4,896 ringgit
SINGAPORE: Palm oil may test a support at 5,086 ringgit per tonne, a break below which could open the way towards 4,896 ringgit.
21-06-2022
EU wheat eases after Chicago slide, rapeseed hit by palm plunge
PARIS, June 20 (Reuters) - Euronext wheat edged lower on Monday, pressured by a pre-weekend slide in Chicago as traders await further clues on harvest and export prospects for the upcoming season.
21-06-2022
CPO futures end mostly lower on concerns over rising production
The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended last week’s downtrend to closed lower on Monday (June 20), the lowest since Jan 17, weighed by weak market fundamentals.
21-06-2022
Cooking oil prices drop - soaps, noodles and detergents might follow suit
One of India’s top FMCG companies, Adani Wilmar reduced the prices of one of the priciest of groceries in recent times – cooking oil.
20-06-2022
CPO futures forecast to trade with downside bias next week
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is forecast to trade with a downside bias as the market continues to be plagued with expectations of higher output next week.
20-06-2022
Don’t just rely on Indonesian, Bangladeshi workers, Zuraida tells palm oil producers
PETALING JAYA: Local palm oil producers should wean off reliance on Indonesian and Bangladeshi foreign workers amidst the “severe†shortage of about 120,000 workers, says Datuk Zuraida Kamaruddin (pic).