Archived News

02/06/2022 (The Edge Markets), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher on Thursday in anticipation of stronger exports as well as lower-than-expected production levels which would draw down existing stock levels in the country, a dealer said.

02/06/2022 (The Star Online) - The recent pronouncement by the Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan that all palm oil companies in the country are to be audited confirms assumptions that the government has no complete database on the upstream and downstream palm oil industry.

03/06/2022 (The Star Online) - Palm oil producers profiting from a global price boom should use the opportunity to ramp up efforts to make the business more sustainable and head off rising risks of forests being cleared for plantations, the new head of the industry's watchdog said.

02/06/2022 (Daily Mirror Online) - Sri Lanka’s palm oil industry yesterday requested the government to repeal the bans and other negative policies in place against the industry and liberalise it, so the industry could play its part to support the country’s dollar-starved economy.

01/06/2022 (Business Recorder), Singapore - Palm oil looks neutral in a range of 6,220-6,423 ringgit per tonne, and an escape could suggest a direction.

01/06/2022 (The Malaysian Reserve) - THE minimum grocery expenditure for the lower to middle-income families will cost between RM400 and RM600 per month on the rising prices.

02/06/2022 (The New Indian Express), Chennai - The Tamil Nadu Civil Supplies Corporation (TNCSC) cannot take advantage of the unfortunate situation of suppliers, the Madras High Court said on Wednesday, quashing the tenders for supply of two lakh packets of palmolein, weighing one litre each, for PDS outlets.

02/06/2022 (Hellenic Shipping News) - The EU’s purchases of rapeseed oil have risen sharply in the 2021-22 marketing year (July-June) from the previous season, a trend which is set to intensify in the near term, although uncertainty around rapeseed supply is expected to weigh on the bloc’s biofuel feedstock option at a time it is looking to boost its renewable energy targets.

01/06/2022 (Channel News Asia), Kuala Lumpur - State agency the Malaysian Palm Oil Council (MPOC) on Wednesday lowered its production outlook for the world's second largest producer and pegged prices to remain above 6,000 ringgit ($1,367.37) a tonne this year.

02/06/2022 (The Edge Markets), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher for the second consecutive day on Wednesday as sentiment over stronger exports continues to lift the market, said a dealer.

01/06/2022 (Dawn), Karachi - The government on Tuesday shocked consumers by pushing up ghee and cooking oil rates by an unprecedented Rs208 and Rs213 to an all-time high of Rs555 per kg and Rs605 per litre, respectively, even though “these rates still do not exist in the retail markets.”

31/05/2022 (Business Recorder) - ISLAMABAD: The government has decided to abolish two percent additional custom duties on the import of palm oil for shipments originating from all sources except Indonesia for 10-20 June 2022.