Archived News

08/06/2022 (New Straits Times), Jakarta - Efforts by Indonesia to curb rising cooking oil prices at home by messing with the free market have disrupted the market and any positive outcome would not last, experts have argued.

09/06/2022 (The Daily Star) - About three weeks after Russian troops invaded Ukraine, Indonesian housewife Liesye Setiana was forced to close her banana chip business as cooking oil supplies dried up across the country.

08/06/2022 (The Star Online), Petaling Jaya - Malaysia’s palm oil inventory probably fell by 6.6% month-on-month (m-o-m) and 2.2% year-on-year (y-o-y) to 1.52 million tonnes at the end of May 2022, says CGS-CIMB Research, who believes the decline could be due to lower output despite higher exports.

07/06/2022 (East Asia Forum) - With Russia’s invasion of Ukraine constricting the global supply of edible oils, demand for palm oil has spiked. But as the war continues, supply remains uncertain. Indonesia’s export ban on crude palm oil, palm kernel oil and cooking oils added further strain.

08/06/2022 (Reuters) - Indonesia Trade Minister Muhammad Lutfi said on Tuesday the government would bring down its combined maximum crude palm oil export and levy rate to $488 per tonne from $575 per tonne to encourage shipments.

07/06/2022 (The Hindu) - The ban on import of palm oil through Kerala ports, introduced to lift the sagging fortunes of coconut growers, it seems, could not do anything to raise the market potential of coconut oil as imported palm oil through neighbouring ports reach Kerala by road costing an extra ₹3 per/kg for an average customer.

08/06/2022 (Antara News), Jakarta - Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan has said that an audit of Indonesian palm oil companies will be conducted soon by the Development and Finance Comptroller (BPKP).

07/06/2022 (Market Watch), Cameroon - Palm oil produced in Cameroon is expected to rise by 10% this year, according to a forecast released Monday by the Bank of Central African States, or BEAC.

07/06/2022 (Business Recorder), Singapore - Palm oil may test a support at 6,386 ringgit per tonne, a break could trigger a drop to a range of 6,204-6,317 ringgit.

07/06/2022 (The Star Online), Kuala Lumpur - Boustead Plantations Bhd (BPB) has sealed a RM45 million green financing agreement with China Construction Bank (M) Bhd (CCBM) to facilitate its sustainable replanting exercise as part of its commitment towards environmental, social and governance (ESG) efforts.

08/06/2022 (The Star Online), Petaling Jaya - Global economic growth is anticipated to slow down this year, with United States rate hikes moderating in the second half amid lingering energy shocks and supply chain disruptions, says HSBC Global Private Banking.

07/06/2022 (The Edge Markets), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Tuesday (June 7), in line with expectations of a lower stock level in the country ahead of the key crop report due to be released later this week, a dealer said.