Archived News

The country’s push for oil palm cultivation to achieve self-sufficiency in vegetable oils is a step in the right direction

The quality of subsidised palm oil sold in polybags is the same as those sold in bottles, Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said

n May, the World Trade Organization (WTO) agreed to review a trade dispute between Malaysia and the European Union. The case, which was initially filed in January, is based on an EU directive that biofuel produced from palm oil will not count as a green fuel, and therefore will be phased out under new EU renewable energy targets. Indonesia filed a similar protest in 2020 which is also currently under review.

Local manufacturers adversely impacted by zero import duty from Nepal and Bangladesh under SAFTA Agreement

THE Domestic Trade and Consumer Affairs Ministry (KPDNHEP) and the Finance Ministry have allocated RM600 million this year compared to last year’s RM528 million for the Cooking Oil Stabilisation Scheme (COSS).

Bursa Malaysia continued its upward momentum at the opening today, extending yesterday's gains, on buying interest seen in selected heavyweights counters such as industrial products, services and healthcare.

India, the world’s biggest vegetable oil importer, meets two-thirds of its domestic demand for edible oil through foreign supplies. Surging prices, which more than doubled in May, have prompted the government to weigh options of cutting import duties.

All members of the Eurasian Economic Union (EAEU) have voiced backing for formal talks on a Cambodia-EAEU free trade agreement (CEFTA), except for Kazakhstan, as Russia smoothens preliminary negotiations, according to a senior official at the Ministry of Commerce.

Malaysian palm oil futures fell for a second straight session on Tuesday, weighed down by expectations of higher May stockpiles and output, and fears of an export levy cut in Indonesia.

Malaysian palm oil futures slipped on Tuesday, extending losses for a second session, hurt by weaker crude oil prices and expectations of rising May inventories.

The Malaysian economy is not out of the woods yet, but experts say the country remains supported by solid macroeconomic fundamentals.

In 2020, Indonesia and Malaysia produced 59 per cent and 26 per cent, respectively, of the world’s palm oil. Sometimes referred to as “red gold”, the naturally reddish vegetable oil is widely used in cooking, food processing, cosmetics, chemical production and as a biofuel.