Archived News

01/06/2022 (Channel News Asia), Kuala Lumpur - State agency the Malaysian Palm Oil Council (MPOC) on Wednesday lowered its production outlook for the world's second largest producer and pegged prices to remain above 6,000 ringgit ($1,367.37) a tonne this year.

02/06/2022 (The Edge Markets), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher for the second consecutive day on Wednesday as sentiment over stronger exports continues to lift the market, said a dealer.

01/06/2022 (Dawn), Karachi - The government on Tuesday shocked consumers by pushing up ghee and cooking oil rates by an unprecedented Rs208 and Rs213 to an all-time high of Rs555 per kg and Rs605 per litre, respectively, even though “these rates still do not exist in the retail markets.”

31/05/2022 (Business Recorder) - ISLAMABAD: The government has decided to abolish two percent additional custom duties on the import of palm oil for shipments originating from all sources except Indonesia for 10-20 June 2022.

31/05/2022 (The Star Online) - Malaysia, the world's second-largest palm oil producer, will on Tuesday welcome the first major batch of migrant workers from Indonesia since reopening borders to staff labour-starved plantations and support a recovery in production.

01/06/2022 (Reuters), Mumbai - India has slashed the base import prices of crude and refined palm oil, while raising the price of crude soyoil, the government said in a statement late on Tuesday.

31/05/2022 (Channel News Asia), Kuala Lumpur - Malaysian palm oil planter FGV Holdings reported on Tuesday it swung to a profit in the first quarter, helped by higher crude palm oil prices and improved sales volume.

01/06/2022 (The News), Karachi - The prices of edible oil and ghee have been increased at the Utility Stores throughout the country.

01/06/2022 (Business Daily Africa) - The Kenyan shilling has hit a new record low of Sh121 to the US dollar this month. Pressure has been mounting on the shilling due to an unfavourable export to import ratio. Demand for imports has risen since the Covid-19 pandemic.

30/05/2022 (The Edge Markets), Jakarta - Indonesia's trade ministry has received a number of palm oil export permit requests that could be granted within the day, senior ministry official Veri Anggriono said on Monday.

30/05/2022 (Channel News Asia), Kuala Lumpur - The Malaysian Palm Oil Association (MPOA) is expecting about 52,000 migrant workers to arrive by the end of the year but warned that it would be too little, too late for output to rebound in the world's second-largest producer.

30/05/2022 (The Malay Mail) - Indonesia has received its first requests for palm oil export permits following the lifting of a ban a week ago, some of which could be granted today, a senior official said, signaling a calibrated resumption of shipments amid protracted delays.