Archived News

07/03/2022 (The Edge Markets), Kuala Lumpur - Palm oil production in each of the world's top producers Indonesia and Malaysia is likely to rise about 3% this year, but it would not be enough to meet global edible oil demand, leading analyst James Fry said on Monday.

07/03/2022 (The Edge Markets) - Indonesia, the world’s biggest palm oil producer and exporter, will push ahead with its ambitious biodiesel programme even as prices of the tropical oil have soared, which could increase the costs of producing biofuel.

07/03/2022 (TBS News) - In the face of the record edible oil rates, the Federation of Bangladesh Chamber of Commerce and Industry (FBCCI) has requested the government to exempt value-added tax (VAT) on cooking oil for next three months.

07/03/2022 (Successful Farming) - Avril's Lesieur cooking oil brand is sourced entirely in France and therefore the war in Ukraine will not affect availability, the French oilseed group said on Monday.

07/03/2022 (Domain-b.com) - Government of India has reduced the agri-cess on crude palm oil (CPO) from 7.5 per cent to 5 per cent, with a view to provide further relief to consumers and to keep in check any further rise in the prices of domestic edible oils due to rise in the prices of edible oils globally. The reduction in cess is effective from 12 February 2022.

06/03/2022 (Swarajya) - The central government has told Indonesia to enhance the shipments of palm oil to India, Reuters reports.

07/03/2022 (Hellenic Shipping News) - Malaysia’s palm oil stockpile at end-Feb likely plunged to its lowest in 10 months, as production shrank for a fourth consecutive month while exports jumped, a Reuters survey showed on Friday.

06/03/2022 (Modern Ghana) - President of the Artisanal Palm Oil Millers and Outgrowers Association of Ghana, Mr.Paul-Kwabena-Amaning,has said the oil palm industry is a tropical perennial crop native to Africa with excellent benefits. Per hectare, it is the most productive oil crop in the world, being 10 times more productive than soybean and other oil bearing seeds. Of the 17 major vegetable oils traded on the international market, palm oil is the most important and accounts for more than half of global import and export trade.

07/03/2022 (The Sun Daily), Petaling Jaya - Palm oil players should focus on increasing yields and not hectarage as a way out of the unusual crude palm oil (CPO) supply crunch which has seen CPO futures contract hitting an all time high of RM8,163 per metric ton (pmt), according to Inter-Pacific Securities head of research Victor Wan.

06/03/2022 (Ahval News) - Rumours about depleting stocks on basic food stuffsf are not accurate, and Turkey has sufficient stocks of sunflower oil, Agriculture Minister Vahit Kirişçi said in a statement.

06/03/2022 (The Times of India) - BHUBANESWAR: People in the capital have started panic buying of edible oil following rumours of its shortage and price rise in India due to the ongoing Russia-Ukraine war.

05/03/2022 (Antara News), Palembang - Coordinating Minister for Economic Affairs Airlangga Hartanto emphasized that the government had persistently endeavored to ensure continued supply of cooking oil in the community to address the current dearth.