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The Union Government on Monday, December 20, reduced the basic customs duty on refined palm oil from 17.5% to 12.5% till March 2022, with effect from Tuesday, December 21 as part of the measures it is taking to bring down the prices of edible oil in the Indian markets.

AFTER a stellar financial performance in the first nine months of its financial year ending Dec 31, 2021 (9MFY2021), thanks to higher crude palm oil (CPO) prices, Sime Darby Plantation Bhd (SDP) is looking to ensure consistent, stable income growth in FY2022 and beyond.

KUALA LUMPUR: The production of crude palm oil is expected to return in earnest next year in both Malaysia and Indonesia, OCBC Treasury Research says.

India, the world's top buyer of vegetable oils, extended its relaxation on refined palm oil and olein imports to Dec. 31, 2022, from its earlier deadline of Dec. 31, 2021, according to a notification by the country's foreign trade regulator.

JAKARTA: Malaysian palm oil futures closed on Monday at their lowest in three months, as crude and rival vegetable oil prices weakened on concerns that surging Omicron cases globally would hurt demand amid projections of soft December exports.

The Securities and Exchange Board of India has directed local stock exchanges to suspend trading of seven agricultural commodities, including crude palm oil and soybean oil, with immediate effect for one year, according to a release on the markets regulator’s website on Dec. 20.

KUALA LUMPUR (Dec 20): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Monday, tracking weaker Chicago Board of Trade (CBOT) soybean oil prices, said palm oil trader David Ng.

Sunflower prices across the Ukrainian market have fallen to a three-month low as falling crude oil prices pressure the vegetable oil complex while the resurgence of a Covid-19 variant brings fears of stricter curbs on movement across Europe.

The government on Monday cut the basic customs duty on refined palm oil to 12.5 per cent from 17.5 per cent as part of efforts to increase domestic supplies and bring down the retail prices of the cooking oil.

Malaysian palm oil futures fell on Monday as crude and rival vegetable oil prices weakened on concerns that surging Omicron cases globally would hurt demand, while December export data is likely to remain soft.

India allowed imports of refined palm oil until December 2022, the government said in a notification, as the world’s biggest vegetable oil buyer tries to bring down edible oil prices.

17/12/2021 (https://themalaysianreserve.com) - THE Malaysian Palm Oil Association (MPOA) launched a charter that outlines its members’ commitments to respect labour rights, adopt responsible recruitment practices and provide good working and living conditions for workers, the growers’ group said yesterday.