Archived News

The sudden shortage of sunflower oil supply has forced food producers to reverse their ban on palm oil and return to this vegetable oil as their frying fat and food ingredients

Malaysian palm oil futures slipped on Monday, hurt by a slump in crude prices after China announced a nine-day lockdown in Shanghai to carry out COVID-19 testing, while weaker March exports also weighed on sentiment.

The party backing President Joko Widodo is urging Indonesians to start boiling, steaming and roasting food instead of frying them as the price of edible oil surges.

The Malaysian Palm Oil Board (MPOB) is working towards implementing strategies across five thrusts in line with the National Agricommodity Policy 2021-2030 (DAKN 2030) to accelerate the palm oil sector’s growth.

The export revenue of palm oil and other palm-based products is expected to improve by 1.4% to RM110 billion this year from RM108.52 billion in 2021, the Malaysian Palm Oil Board (MPOB) said.

Oil palm is known as a wonder tree in so many places, not a single one of its products is wasted.

Malaysia and Indonesia will be the focus of international oils and fats trade this year, supported by the projection of a 4% world economic growth and higher demand for vegetable oils, said the Malaysian Palm Oil Council (MPOC).

27/03/2022 (Xinhua) - Multiple international crises are pushing up commodity prices in Uganda, causing discomfort among the public, the country's ministry of finance has said.

27/03/2022 (New Straits Times) - THE INDONESIAN police will take the lead in monitoring the supply of cooking oil, to ensure the commodity remains adequate for consumers ahead of Ramadan.

26/03/2022 (Dawn), Karachi - As Finance Minister Shaukat Tarin on Friday approved a 10 per cent tax cut on the import of edible oil for April and May, the prices of ghee and cooking oil have already reached close to Rs500 per kg/litre ahead of Ramazan due to soaring palm oil rates and rupee devaluation against the dollar.

26/03/2022 (Dawn), Karachi - Producers have warned that the flooding of cheap smuggled Iranian cooking oil is not only affecting the market share of the local edible oil industry but also causing revenue losses to the exchequer.

27/03/2022 (Modern Diplomacy) - It is too early to state that Indonesia will not increase the tariff for palm oil because in Indonesia, food oil or palm oil are still in the short supply. Many Indonesian people complained to the government because the price of palm oil or food oil has increased from December 2021 to January 2022. In March 2022, the price of Indonesian palm oil decreased, but from a procurement perspective, there was a shortage. The following table is the increasing price of food oil in Indonesia.