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Among these are soy giant SLC Agricola, which the report accuses of clearing 30,000 hectares of forest in the Amazon and Olam International, charged with razing 40,000 hectares of rainforest in Gabon between 2012 and 2017 to create rubber and palm-oil plantations.

The Ministry of Plantation Industries and Commodities (MPIC) has continued to take the anti-palm oil campaign in the west seriously and is constantly monitoring the legal developments that could have a negative impact on the Malaysian palm oil industry.

Ambassador of Malaysia to Sri Lanka, Tan Yang Thai, recently met with a delegation from the Palm Oil Industry Association Sri Lanka (POAISL), to discuss the benefits of a collaborative approach towards uplifting Sri Lanka’s rural communities.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed down 105 ringgit, or 2.07%, to 4,966 ringgit ($1,194.90). It touched a record high of 5,220 ringgit per tonne earlier in the session.

The venture will be undertaken with the largest grid-connected palm oil mill effluent biogas developer in Malaysia, Cenergi SEA Bhd’s wholly owned subsidiary Cenergi RE Sdn Bhd.

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives erased Wednesday’s gains to end lower today weighed down by market talk of the Chinese government cracking down on speculative bets in the futures market in general, a dealer said

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange closed up 122 ringgit, or 2.47%, to 5,066 ringgit ($1,217.79) a tonne.

Oil palm growers and fresh fruit bunches (FFB) producers may reap higher income as the price of CPO is expected to maintain its current bullishness amid tight edible oil supply and strong demand from consuming countries.

There are many jobs available for Malaysians as employers urgently require workers in certain critical sectors, such as manufacturing and construction, as the economy recovers from the pandemic.

EU Vice-President Frans Timmermans, who is in charge of the EU Green Deal, met with Indonesian officials with the future of palm oil exports high on the agenda.

Efforts to develop the downstream palm oil sector continue, with “batik sawit Nusantara” (Indonesian palm-based batik) emerging as the latest product to use palm oil products or derivatives in the manufacturing process.

Brent crude oil is currently trading at US$86 per barrel, while crude palm oil closed at an all-time high on Wednesday with the benchmark palm oil contract for January 2022 rising by RM127 to RM5,071 a tonne.