Archived News

KUALA LUMPUR, Dec 1 - Malaysian palm oil futures rose on Wednesday, after hitting an eight-week low in the previous session, as broader markets recovered from a sell-off sparked by concerns over the Omicron coronavirus variant, although lingering fears capped gains.

JAKARTA, Dec 1 (Reuters) - Indonesia will need to increase the bio-content of its palm oil-based biodiesel to 40% by 2024 or risk missing its renewable energy targets, a senior official said on Wednesday.

Indonesia is likely to implement 40pc biodiesel blending (B40) partially across some regions in 2025, with higher domestic hydrotreated vegetable oil (HVO) and distilled palm methyl ester (DPME) capacity needed to transition to nationwide B40 in later years.

KUALA LUMPUR: Applications from smallholders for grants through the Smallholder Oil Palm Replanting Stimulus Scheme approved under Budget 2022 are being refined, said Deputy Minister of Plantation Industries and Commodities (MPIC) Datuk Willie Mongin.

JAKARTA - Indonesia will increase its 2021 biodiesel allocation by 213,033 kilolitres to 9.4 million kilolitres, its energy ministry said in a statement on Wednesday.

Jakarta (ANTARA) - Finance Minister Sri Mulyani emphasized that the downstreaming of palm oil is important to boost the added value of exports since palm oil is one of Indonesia's main export commodities.

KUALA LUMPUR, Nov 30 (Reuters) - Malaysia's FGV Holdings (FGVH.KL), the world's largest crude palm oil producer, said on Tuesday its third-quarter profit nearly tripled from a year earlier as prices surged and forecast a return to full output by the second quarter of 2022.

KUALA LUMPUR, Nov 30 (Reuters) - Malaysia's palm oil planters are preparing to import an army of migrant workers to boost output hammered by the coronavirus pandemic, but the nation's largest producer said workers are only expected to start arriving by the end of March 2022.

KUALA LUMPUR (Nov 30): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Tuesday, tracking weakness in the soybean oil market on the Chicago Board of Trade (CBOT).

KUALA LUMPUR, Nov 30 — The Ministry of Plantation Industries and Commodities (MPIC) will produce more smart smallholders by modernising services and increasing the adoption of technology.

Cargill on Tuesday said it is investing $35 million on acquiring and upgrading an edible oil refinery in Nellore in neighbouring Andhra Pradesh.

KUALA LUMPUR: There is a need for Malaysia to revisit the agriculture sector as a potential source of employment opportunities and increase capital investment in modernising this sector, said the Department of Statistics Malaysia (DoSM).