Archived News

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.

31/05/2022 (The Star Online) - Malaysia, the world's second-largest palm oil producer, will on Tuesday welcome the first major batch of migrant workers from Indonesia since reopening borders to staff labour-starved plantations and support a recovery in production.

01/06/2022 (Reuters), Mumbai - India has slashed the base import prices of crude and refined palm oil, while raising the price of crude soyoil, the government said in a statement late on Tuesday.

31/05/2022 (Channel News Asia), Kuala Lumpur - Malaysian palm oil planter FGV Holdings reported on Tuesday it swung to a profit in the first quarter, helped by higher crude palm oil prices and improved sales volume.

01/06/2022 (The News), Karachi - The prices of edible oil and ghee have been increased at the Utility Stores throughout the country.

01/06/2022 (Business Daily Africa) - The Kenyan shilling has hit a new record low of Sh121 to the US dollar this month. Pressure has been mounting on the shilling due to an unfavourable export to import ratio. Demand for imports has risen since the Covid-19 pandemic.