Archived News

24/08/2022 (Antara News), Jakarta - Coordinating Minister for Economic Affairs Airlangga Hartarto believes that existence of the palm oil industry and its products should be able to increase the people's welfare.

24/08/2022 (Business Recorder) - Palm oil may test a resistance at 4,452 ringgit per tonne, a break above which could lead to a gain to 4,680 ringgit.

24/08/2022 (Business Recorder), Jakarta - Malaysia’s palm oil futures rose for a fourth straight session on Wednesday, tracking gains in soy oil prices amid concerns over weak US output, while investors awaited domestic export data for further cues.

24/08/2022 (Daily Express), Kuala Lumpur - Profit from Malaysia is likely to be affected by harvesters’ shortage but Sime Darby Plantation Bhd (SDP) is confident that other operations will be able to offset the fall.

24/08/2022 (Business Post, Nigeria) - Nigerians paid more to purchase key food items as prices of groundnut oil, palm oil, rice, beans, beef, tomatoes and others skyrocketed in July 2022 at the market as the inflationary pressures continue to dig deeper into their pockets.

23/08/2022 (The Edge Markets), Kuala Lumpur - Boustead Plantations Bhd's net profit grew 51% to RM73.22 million or 3.27 sen per share for the second quarter ended June 30, 2022 (2QFY22) from RM48.37 million or 2.16 sen per share a year ago thanks to higher palm oil prices.

23/08/2022 (New Straits Times), Kuala Lumpur - Boustead Plantations Bhd's (BPB) net profit rose 51 per cent to RM73.22 million in the second quarter (Q2) ended June 30, 2022, from RM48.38 million in the same quarter last year.

23/08/2022 (Reuters), Jakarta - India is committed to importing 2.6 million tonnes of palm oil products worth $3.16 billion, Indonesia's trade minister said in a statement on Tuesday.

24/08/2022 (Indonesia At Melbourne) - The recent collapse in oil palm prices to some of the lowest levels ever seen has hit smallholder farmers hard. In April, President Joko “Jokowi” Widodo announced a ban on the export of crude palm oil (CPO) and its derivatives, in an attempt to address rapidly escalating cooking oil prices in the domestic market. The policy, which was quickly reversed in May, resulted in a drastic fall in the price of palm fruit, but had little impact on cooking oil prices.

23/08/2022 (Business Recorder), Singapore - Palm oil may retest a resistance at 4,269 ringgit per tonne, a break above which could lead to a gain to 4,452 ringgit.

23/08/2022 (The Star Online), Kuala Lumpur - IOI Corp Bhd, which saw its net profit jump 50.7% to RM541.8mil in the second quarter ended June 30, expects its financial performance for the financial year ending June 30, 2023 (FY23) to be lower than for FY22 but remain healthy.

23/08/2022 (The Edge Markets), Kuala Lumpur - CI Holdings Bhd's net profit grew 13% in the final quarter of fiscal year ended June 30, 2022 (4QFY22) on the back of stronger revenue, driven by higher palm olein prices and a stronger US dollar against the ringgit.