Archived News

MUMBAI (Feb 18): Indian traders have contracted to import a record 100,000 tonnes of soyoil from the United States because of limited supplies from drought-hit South America, at a time when prices of rival palm oil are scaling record highs, three dealers told Reuters.

KUALA LUMPUR: Crude palm oil (CPO) prices could remain elevated until the first half (1H) of 2022 but may soften as production of global vegetable oils picks up, said Affin Hwang Capital.

PUTRAJAYA: In the face of threats that the United States and the European Union will impose sanctions on palm oil, Malaysia is looking to develop new markets for the commodity.

Malaysia has maintained its March export tax for crude palm oil at 8% and raised its reference price, a document on the Malaysian Palm Oil Board website showed on Wednesday.

KUALA LUMPUR (Feb 16): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Wednesday on improving production for the first half of February.

KUALA LUMPUR: Sime Darby Plantation Bhd's (SDP) commitment to making sweeping changes to its labour practises is a clear signal that the Malaysian palm oil sector is serious about its global responsibilities.

The CME Group’s soybean market rocketed higher and finished on its daily highs. At the close, the March corn futures settled 9¢ higher at $6.47. May futures ended 8¾¢ higher at $6.45. December futures finished 4¢ higher at $5.93.

Makassar, S Sulawesi (ANTARA) - Trade Minister Muhammad Lutfi ensured stable availability of premium and simple packaged cooking oil in the next week, or at the latest, by the end of February 2022.

February 17, 2022: Malaysian palm oil futures firmed on Thursday, lifted by an overnight rally in rival soyoil, although gains were held back by weaker crude prices and a survey signalling an improvement in the country's palm oil production.

KUALA LUMPUR (Feb 15): The Council of Palm Oil Producing Countries (CPOPC) has developed a Global Framework of Principles of Sustainable Palm Oil (GFP-SPO) that aims to be a common language across different certification schemes applied to palm oil production anchored in the United Nations Sustainable Development Goals (UN SDGs) as its base.

(Repeats Tuesday's story with no changes to the text) MUMBAI, Feb 15 (Reuters) - India has raised the base import prices of palm oil, soyoil, gold and silver, the government said in a statement late on Tuesday, as prices jumped in the overseas market. The government revises base import prices of edible oils, gold, and silver every fortnight, and the prices are used to calculate the amount of tax an importer needs to pay. India, the world's biggest edible oils importer, earlier this month cut its import tax on palm oil.

according to Hong Leong Investment Bank Bhd (HLIB). This will be supported by weaker production outlook for corn and soybean in South America and Indonesian government's recent move to expand its export permit requirement for all palm oil products.