Archived News

Finance Minister Shaukat Tarin on Monday directed the Ministry of Industries and Production (MoIP) to hold a meeting with ghee and edible oil manufacturers and help transmit the declining trend of international oil prices to end consumers.

Sri Lanka has lifted price control on coconuts ordered by circumference as coconut prices went up after a ban on palm oil imports and the Federal Reserve fired a global commodity bubble with ‘stimulus’ and the domestic currency also came under pressure from liquidity injections

The falling global prices of raw edible oils is, as Reserve Bank of Zimbabwe Governor Dr John Mangudya noted last week, good news for Zimbabwe and should reduce both the cost of cooking oil for consumers and the national import bill, since we are an importer rather than an exporter.

Palm oil may bounce more to 3,602 ringgit per tonne, as it has stabilized around a support at 3,273 ringgit.

Malaysian palm oil futures fell on Monday, extending last week's losses on news of Indonesia's plan to change its export levy.

Indonesia will change its crude palm oil export levy system “soon”, Eddy Abdurrachman, the chief executive the government body in charge of collecting palm oil levies (BPDB), told Reuters on Monday.

China's first energy options open to foreign traders made their Shanghai International Energy Exchange (INE) debut on Monday with the new crude oil contract achieving only muted volumes.

India's vegetable oil traders have been holding back from conducting new business amid wide swings in palm oil markets in the first three weeks of June, following news of a potential changes in taxation and biodiesel mandates, as well as mixed supply and demand data, market sources told S&P Global Platts.

Indonesia and Canada will begin negotiations on a comprehensive economic partnership agreement, both countries said on Monday, as the Southeast Asian nation steps up its economic diplomacy under President Joko Widodo.

Malaysian palm oil futures gained on Monday, lifted by stronger crude prices, as traders waited for June partial export data and production estimates for more direction

China launched the trading of crude oil options on the Shanghai International Energy Exchange on Monday and introduced overseas investors, in order to better manage the risks faced by both domestic and overseas entities, marking another big step in the country's financial opening-up.

Malaysian palm oil futures reversed earlier gains to fall 1% on Thursday, as top buyer India put its import tax cut plans on hold, although a weaker ringgit limited further losses