Archived News
11-03-2022
Indonesia Cuts CPO Exports for at Least Six Months to Tame Domestic Cooking Oil Crisis
10/03/2022 (Jakarta Globe) - Indonesia, the largest producer of crude palm oil, has decided to stifle its palm oil export over the next six months in a move designed for taming the cooking oil scarcity within its border, sending the commodity price to a new all-time high.
10-03-2022
Andhra Pradesh: False scarcity pushes up prices of edible oil
10/03/2022 (Times of India) - VIJAYAWADA: Oil traders across the state are looting the public in the name of Russia-Ukraine war. Price of cooking oils increased by 30% in the last ten days putting a huge burden on common man. Raids conducted by vigilance and enforcement authorities and the food safety department have failed to curb the mafia from continuing their malpractices.
10-03-2022
Cooking oils in ‘perfect storm’ as war slashes Black Sea exports
09/03/2022 (The Edge Markets) - Cooking oils are facing “a perfect stormâ€, with as much as 60% of sunflower oil exports from the Black Sea region being delayed in the current marketing year because of Russia’s invasion of Ukraine, according to James Fry, a veteran analyst and chairman of LMC International, a consultancy.
10-03-2022
Sime Darby’s palm oil still not welcome, US agency clarifies
09/03/2022 (Free Malaysia Today), Petaling Jaya - Sime Darby Plantation’s (SDP) palm oil and related products are still banned from entering the US over claims of forced labour practices.
10-03-2022
Ministry probing whether seized palm oil is from Malaysia
09/03/2022 (Free Malaysia Today), Putrajaya - The plantation industries and commodities ministry is investigating whether local companies were involved in the production of palm oil products that were recently seized by the United States Customs and Border Protection (CBP).
10-03-2022
Indonesia tightens palm oil export curbs in new hit to global supplies
09/03/2022 (Reuters), Jakarta - Indonesia will further restrict exports of palm oil from Thursday to increase domestic supplies, as authorities ramp up efforts to contain a surge in cooking oil prices, Trade Minister Muhammad Lutfi said.
10-03-2022
Palm oil prices to fall sharply in second half of 2022 - analyst Mistry
09/03/2022 (Reuters), Kuala Lumpur - Prices of palm oil and other commodities may see a decline in the second half of the year as a possible stagflation and recession squeeze demand, leading analyst Dorab Mistry said on Wednesday.
10-03-2022
Indonesia sets DMO on palm oil to 30 pct effective March 10 - Bernama
09/03/2022 (Reuters), Jakarta - Palm oil producers in Indonesia are required to sell 30 per cent of their crude palm oil shipments for local buyers, effective tomorrow, the country’s trade ministry said.
10-03-2022
Indonesian palm oil production seen at 48 mln T this year - GAPKI - Reuters
09/03/2022 (Reuters), Kuala Lumpur - Indonesia's palm oil production is expected to rise to about 48 million tonnes this year from 46.9 million tonnes last year, the Indonesia Palm Oil Association (GAPKI) said on Wednesday.
10-03-2022
Food Protectionism Grows as Indonesia Curbs Palm Oil Exports
09/03/2022 (Bloomberg) - Indonesia, the world’s biggest exporter of edible oils, will tighten its control over shipments in a sign of growing protectionism around the world as countries grapple with soaring food prices.
10-03-2022
Palm oil futures jumps by 10 per cent limit as Indonesia restricts exports further
09/03/2022 (The Hindu Business Line) - The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange hit 7,057 ringgit ($1,685.86) per tonne.
09-03-2022
US CBP has seized US$2.5m worth of Malaysian palm oil shipments since February
09/03/2022 (The Edge Markets), Kuala Lumpur - The US Customs and Border Protection (CBP) has seized four shipments of Malaysian palm oil in Baltimore since Feb 11 due to information indicating that the commodity was manufactured by forced labour.