Archived News

India’s decision to allow imports of 40 lakh tonnes (lt) each of crude soyabean oil and crude sunflower oil during the current fiscal and the next dragged global palm oil prices lower on Wednesday.

KUALA LUMPUR: Malaysian palm oil futures fell on Wednesday, ending a three-session rally, pressured by demand worries after top buyer India allowed duty-free imports of competing soy and sunflower oils.

KOTA KINABALU (May 24): Sabah Chief Minister Datuk Seri Hajiji Noor has asked European Union (EU) Ambassador to Malaysia Michalis Rochas to correct misconceptions about the country’s palm oil industry.

PEKAN: Indonesia’s move to lift its palm oil exports ban yesterday will not have much of an impact on Malaysia’s oil palm industry, said Plantation Industries and Commodities Deputy Minister Datuk Willie Mongin.

Indonesian President Joko Widodo has agreed to allow palm oil exports to resume after a three-week ban, though it is unclear how rapidly shipments will resume given accompanying rules aimed at securing domestic supply.

NEW DELHI: India could soon cut an import tax on crude soyoil and crude sunflower oil, trade and government sources said on Tuesday, as the world's biggest vegetable oil importer tries to keep a lid on local prices.

SINGAPORE: Palm oil looks neutral in a range of 6,099-6,354 ringgit per tonne, and an escape could suggest a direction.

KUALA LUMPUR (May 25): Malaysia is open to working with international parties, including government agencies, academicians, research institutes, industry players, and businesses to ensure the agri-commodity industry continues to develop progressively and sustainably, Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said.

JAKARTA: Indonesia is due to resume exports of palm oil on Monday after a ban of more than three weeks, but industry traders and companies were awaiting details on accompanying rules to secure domestic supplies of the edible oil to control cooking oil prices.

Indonesia allowed a resumption of palm oil exports from Monday after a three-week ban, but shipments were not expected to get underway until details emerge on new rules aimed at securing domestic supplies of the edible oil.

KUALA LUMPUR (May 23): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday (May 23), on the back of a weaker output expectation.

SINGAPORE: Palm oil may retest a resistance at 6,354 ringgit per tonne, as the bounce from the May 20 low of 5,925 ringgit looks incomplete.