Archived News

10/03/2022 (Borneo Post Online), Kuala Lumpur - Malaysia is ready to work with Papua New Guinea to investigate allegations of wrongdoing by a Malaysian palm oil company operating there, said Deputy Minister of Plantation Industries and Commodities Datuk Willie Mongin.

10/03/2022 (Mongabay) - When commodity prices spiked in the late 2000s, multinational agribusiness giants smelled profits. Eager to branch out of crowded Southeast Asian rainforests, some palm oil companies set their sights on Africa, where governments in countries like Sierra Leone, Liberia, Cameroon, and Côte d’Ivoire assured them that they had land to spare. In just a few years, deal after deal was inked, with companies from across the world suddenly holding the rights to huge tracts of West and Central African land. For the palm oil industry, an exciting new frontier was opening up at a breakneck pace.

10/03/2022 (The Edge Markets), Kuala Lumpur - The government will review the fuel and cooking oil subsidy mechanism, so that it will be more targeted towards aiding and subsidising the vulnerable groups and those who really need help, Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.

10/03/2022 (Jakarta Globe) - Indonesia, the largest producer of crude palm oil, has decided to stifle its palm oil export over the next six months in a move designed for taming the cooking oil scarcity within its border, sending the commodity price to a new all-time high.

10/03/2022 (Times of India) - VIJAYAWADA: Oil traders across the state are looting the public in the name of Russia-Ukraine war. Price of cooking oils increased by 30% in the last ten days putting a huge burden on common man. Raids conducted by vigilance and enforcement authorities and the food safety department have failed to curb the mafia from continuing their malpractices.

09/03/2022 (The Edge Markets) - Cooking oils are facing “a perfect storm”, with as much as 60% of sunflower oil exports from the Black Sea region being delayed in the current marketing year because of Russia’s invasion of Ukraine, according to James Fry, a veteran analyst and chairman of LMC International, a consultancy.

09/03/2022 (Free Malaysia Today), Petaling Jaya - Sime Darby Plantation’s (SDP) palm oil and related products are still banned from entering the US over claims of forced labour practices.

09/03/2022 (Free Malaysia Today), Putrajaya - The plantation industries and commodities ministry is investigating whether local companies were involved in the production of palm oil products that were recently seized by the United States Customs and Border Protection (CBP).

09/03/2022 (Reuters), Jakarta - Indonesia will further restrict exports of palm oil from Thursday to increase domestic supplies, as authorities ramp up efforts to contain a surge in cooking oil prices, Trade Minister Muhammad Lutfi said.

09/03/2022 (Reuters), Kuala Lumpur - Prices of palm oil and other commodities may see a decline in the second half of the year as a possible stagflation and recession squeeze demand, leading analyst Dorab Mistry said on Wednesday.

09/03/2022 (Reuters), Jakarta - Palm oil producers in Indonesia are required to sell 30 per cent of their crude palm oil shipments for local buyers, effective tomorrow, the country’s trade ministry said.

09/03/2022 (Reuters), Kuala Lumpur - Indonesia's palm oil production is expected to rise to about 48 million tonnes this year from 46.9 million tonnes last year, the Indonesia Palm Oil Association (GAPKI) said on Wednesday.