Archived News

Palm oil merchants in Cross River State have said Nigeria’s palm oil is the most sought-after in the global market, a reason why it is not available in parts of the country.

NEW DELHI, Nov 1 (Reuters) - The head of India's edible oil producers' association called on producers on Monday to voluntarily cut wholesale prices to help consumers reeling from a sharp increase in global prices.

The average retail price of soya oil saw a marginal reduction to Rs 153 per kg from Rs 155.65 per kg in the said period

KUALA LUMPUR (Nov 2): Moody's Investors Service has raised its price sensitivity range for crude palm oil (CPO) to between RM2,800 and RM3,200 per tonne from between RM2,200 and RM2,600 per tonne through 2022.

PARIS, Nov 1 (Reuters) - Strategie Grains has increased its monthly forecast for this year's European Union sunseed harvest by more than 200,000 tonnes to 10.16 million tonnes while lowering its rapeseed crop and import estimates, the consultancy said in an oilseed report.

KUALA LUMPUR: The government is raising the threshold of the windfall tax for the palm oil sector from RM2,500 to RM3,000 for Peninsular Malaysia, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

KUALA LUMPUR (Oct 31): Palm oil growers from Sabah and Sarawak are crying foul over what they deemed to be the unjust doubling up of the windfall profit levy rate from 1.5% to 3% to be imposed on those who operate in the two states, as proposed under Budget 2022.

KUALA LUMPUR (Oct 29): Malaysia will likely relax cross-border restrictions on foreign workers in the second half of 2022, a move that will ease the severe labour crunch in palm oil plantations that’s contributed to a global edible oil rally.

KUALA LUMPUR: Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to trade on an upward bias next week, said a dealer.

LAHORE: "Almost 70 percent of palm oil imported in Pakistan is used for Vanaspati and blended cooking oil production, and the share of sustainable palm oil has gradually increased in past few years. The Certified Sustainable Palm Oil (CSPO) has shown significant growth over the years and currently consists of 42 percent of the total oil imports to Pakistan".

KUALA LUMPUR: Malaysian plantations are faced with two new government tax initiatives, which could weigh heavily on their earnings, says RHB Research.

THE government under Budget 2022 has proposed to increase the threshold price for crude palm oil (CPO) windfall profit tax (WPT) structure for local plantation companies.