Archived News

Ukraine’s sunflower oil exports totalled 4.421 million tonnes in the first eight months of the 2020/21 season, amounting to 82.1% of the season’s export quota, the sunoil producers’ association said on Tuesday.

NEW DELHI: India, the world's top importer of vegetable oil, will have to spend billions of extra dollars this year to buy more costly cooking oil from overseas and is mulling cutting taxes on those imports to soften the blow to the economy, industry officials have said.

KUALA LUMPUR (June 15): Crude palm oil (CPO) prices are expected to see a quick and sharp recovery following the declines that have been seen in the past few trading days, opined veteran vegoil analyst and Godrej International Ltd director Dorab Mistry.

SINGAPORE/JAKARTA (June 15): Malaysian palm oil futures jumped more than 6% on Tuesday, snapping a six-days lossing streak, supported by bargain buying and stronger soyoil prices on the Chicago Board of Trade (CBOT).

SINGAPORE: Malaysian palm oil futures ended at a more than four-month low on Monday, extending losses for a sixth straight session, hurt by a fall in Indonesian exports and weaker soyoil prices.

Palm oil is contained in many daily products, from food, cosmetics and personal care products to household cleaning products. This means that the public both benefits from and is highly dependent on the palm oil industry for the various products they consume.

JAKARTA, June 16 - Malaysian palm oil futures dropped more than 2% on Wednesday, shedding sharp gains from the previous session, weighed down by a fall in soyoil prices.

KUALA LUMPUR (June 15): Crude palm oil (CPO) price may hit RM3,800 per tonne in the third and fourth quarters of 2021, leading to an average price of RM3,678 per tonne this year for the commodity, said OCBC Bank.

India's import of vegetable oils (including edible oils and non-edible oils) rose to 1.24 million tonnes (mt) during May 2021 compared with 0.74 mt in May last year, up 68%, media reports noted. The overall import of vegetable oils during November-May stood at 7.67 mt compared with 7.06 mt in the year-ago period, recording a rise of around 8.60%.

(June 15): A resurgence of Covid-19 infections in No. 2 palm oil grower Malaysia is set to exacerbate a labor shortage and curb production of the world’s most-consumed cooking oil.

India’s palm oil imports nearly doubled in May from last year’s low base to the highest level in 4-months as refiners bought aggressively to replenish inventory, a leading trade body said in a statement on Monday.