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KUALA LUMPUR: For over a century, the plantation industry has remained a crucial component of Malaysia's economy with a sustained dominance in the global market for palm oil production and exports after Indonesia.

LETTERS: Things have not looked this rosy for the oil palm industry in a long time. Crude palm oil prices are at a five-year high, averaging RM4,465 per metric tonne (pmt) for the first quarter of this year, a 40 per cent increase year on year (yoy) compared with RM3,185 pmt previously.

Leading edible oil analyst Dorab Ministry on Thursday urged Indonesia to immediately resume exports of palm oil, warning that a halt in shipments pending details of a domestic sales rule could spell economic “doom” for farmers.

Cochin Port Users Forum says move will fetch extra revenue and ease container shortage With Indonesia lifting restrictions on palm oil imports, Cochin Port Users Forum has requested the Director General of Foreign Trade to end the restrictions on palm oil imports through Cochin and other minor ports in Kerala.

Malaysian palm oil futures fell for a second straight day on Thursday, dragged by prospects of a resumption in sunflower oil shipments out of Ukraine, a development that could ease tightness in global edible oil supplies.

KUALA LUMPUR: Malaysian palm oil futures reversed course to hit a three-week closing high on Thursday, triggered by bargain buying amid tight suppllies as Indonesian oil remains absent from the global market.

Plunging demand for soyoil in China is expected to cut consumption of the oilseed in the world’s biggest user as lockdowns to prevent the spread of COVID have shuttered restaurants and canteens, according to traders and analysts.

Indonesia will determine palm oil producers’ mandatory domestic sales volume based on their refining capacity and local demand for cooking oil, a trade ministry regulation document showed on Wednesday, as the government plans an industry audit.

KUALA LUMPUR (May 25): FGV Holdings Bhd, which owns about 5% of oil palm plantations in Indonesia, expects to benefit from Jakarta’s recent decision to lift the ban on palm oil exports, group chief executive officer Mohd Nazrul Izam Mansor said.

JAKARTA (May 25): Indonesia will audit all palm oil companies operating in the country and require them to move their headquarters onshore amid efforts to improve governance of the sector, senior Cabinet Minister Luhut Pandjaitan told local media.

India’s palm oil imports could fall 19% to the lowest level in 11-years as soyoil, now cheaper, takes more market share because of Indonesia’s curbs on palm oil exports and New Delhi’s move to allow duty-free imports of soyoil, dealers said.

KUALA LUMPUR (May 25): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Wednesday, retreating from two days of gains, on profit-taking.