Archived News

10/05/2022 (The Edge Markets), Kuala Lumpur - Both upstream oil palm growers and downstream oil producers in the country should join hands to reap the benefit of the void following neighbouring Indonesia’s decision to halt its palm oil exports, Plantation Industries and Commodities Minister Datuk Zuraida Kamaruddin said.

10/05/2022 (The Edge Markets), Kuala Lumpur - Malaysia's commodities ministry has proposed cutting the export tax on palm oil by as much as half to help fill a global edible oil shortage and grow the market share of the world's second-largest palm oil producer.

10/05/2022 (New Straits Times), Putrajaya - The government today urged upstream oil palm growers and downstream palm oil producers in Malaysia to join hands and reap the benefits of the void created following Indonesia's decision to halt its palm oil exports.

10/05/2022 (Mongabay), Jakarta - The office of the Indonesian ombudsman says it has found indications of maladministration in the government’s decision to revoke hundreds of logging, plantation and mining permits across the country.

10/05/2022 (The Edge Markets) - INDIA, which has been importing an average of just over three million tonnes of palm oil from Malaysia over the past five years, is keen to raise its annual imports from Malaysia by two million tonnes or about 67% over that five-year average, and is in talks with the Malaysian government to secure the additional supply via countertrade.

KUALA LUMPUR (May 9): Malaysian plantation companies are expected to enjoy higher year-on-year (y-o-y) earnings for the first quarter of 2022 (1Q22), on the back of higher crude palm oil (CPO) prices, said CGS-CIMB Securities Sdn Bhd.

PETALING JAYA: The price of some brands of cooking oil has gone up by as much as RM10 for a 5kg bottle, says a retailers’ association.

SINGAPORE, May 9 (Reuters) - Exports of Malaysian palm oil products for April fell 17.1 percent to 1,103,093 tonnes from 1,331,400 tonnes shipped during March, cargo surveyor Societe Generale de Surveillance said on Monday.

SINGAPORE: Palm oil may end its fall in a support zone of 6,190-6,290 ringgit, and then test a resistance at 6,602 ringgit a tonne.

Most of the groceries in the city are out of soybean oil, except for a few big shops in the essential commodity markets, even though the government raised its price to Tk198 on Sunday--a record price hike of Tk38 per litre of soybean oil.

The price of bottled soybean oil in Bangladesh has reached a record high of Tk198 per liter, stirring anger and dissatisfaction at the mass consumer level as the price was increased several times before the beginning of Ramadan as part of a tradition to bag extra profits. In the current volatile state of the oil market, low- and middle-income people are facing unbearable sufferings.

DAR ES SALAAM, May 9 (Xinhua) -- The government of Tanzania on Monday announced plans aimed at ending sugar and edible oil imports by 2025.