Archived News

SINGAPORE, June 4 - U.S. agribusiness giant Cargill Inc said it is building a $200 million palm oil refinery in the Indonesian province of Lampung, which the company expects to be completed late next year.

New Delhi, Jun 3 (PTI) The government on Thursday said the prices of cooking oils, which rose abnormally in the last one year, have started to soften due to fall in global rates and lower domestic demand.

KUALA LUMPUR: Malaysian palm oil futures jumped 5% on Wednesday, hitting a two-week high, as dry weather in the US and Canadian crop belts and reduced crop expectations in South America stoked worries over global edible oil supply.

Crude palm oil futures were steady after five consecutive days of decline to Rs 1,141 per 10 kg as participants increased their short position as seen by the open interest. Malaysian palm oil futures rose 4.34 percent to settle at 4,060 Ringgits on Bursa Malaysia Bhd.

KUALA LUMPUR, June 2 (Reuters) - Malaysian palm oil futures rose 2% on Wednesday after two straight sessions of declines, as dry weather in the U.S. and Canadian crop belts and reduced crop expectations in South America stoked worries over global edible oil supply.

Jakarta (ANTARA) - Foreign Affairs Minister Retno Marsudi earnestly appealed to the European Union (EU) to avoid discriminating against Indonesian palm oil, as the Southeast Asian nation was endeavoring to achieve economic recovery amid the COVID-19 pandemic.

KUALA LUMPUR (June 3): Bursa Malaysia continued its upward momentum at the opening today, as market sentiment was aided by the steady crude palm oil (CPO) and benchmark Brent oil prices, on the back of OPEC+ decision to gradually restore supply, said an analyst.

After repeatedly testing this support, the contract still failed to break it and then fall towards 3,738 ringgit. The failure strongly suggests the formation of a bottom around 3,888 ringgit.

KUALA LUMPUR (June 2): The execution of the B20 biodiesel programme in Sabah and Peninsular Malaysia has been postponed, to a date to be decided upon later.

KUALA LUMPUR, June 3 - Malaysian palm oil futures soared as much as 4% on Thursday to a two-week high, following a rally in global agricultural markets as adverse weather in the United States reignited supply concerns.

MUMBAI, June 1 (Reuters) - India raised the base import price of palm oil, soybean oil, gold and silver, the government said in a statement late on Monday. The government revises base import prices of edible oils, gold and silver every fortnight and the price is used to calculate the amount of tax an importer needs to pay.

The World Trade Organization agreed to establish two expert panels late last week to review complaints around China’s imposition of duties on Australian barley exports and the EU’s decision to ban the use of palm oil and palm oil-based feedstocks to biodiesel production.