Archived News
10-05-2021
Raise palm oil windfall tax, use it for mass screening, Najib tells govt
Former prime minister Najib Razak has proposed for the windfall tax on palm oil to be increased from 3% to 6% to boost the federal government’s coffers.
10-05-2021
US trade deficit rises to new high
US trade deficit shot to a new high at US$74.4 billion in March. The shortfall with China increased 22 per cent as Americans lean to more towards purchasing foreign goods after receiving the stimulus
10-05-2021
Slump in imports trigger surge in coconut oil prices
In 2020, local coconut oil production was a negligible 20,000MT, which translated into a yawning gap that had to be bridged by importing 180,000MT, they said.
10-05-2021
Crude palm oil at all-time high on strong demand; analysts maintain bullish outlook
Crude palm oil (CPO) futures settled at a new all-time high on the MCX on firm demand for edible oil in the spot markets on the back of Ramzan buying and positive global trend
10-05-2021
Sri Lanka to ban palm oil imports, raze plantations over environmental concerns
Environmentalists have welcomed the Sri Lankan government’s surprise decision to ban palm oil imports into the country and raze existing plantations, but others say the science justifying the move is unfounded.
10-05-2021
EU & India Announce ‘Comprehensive Connectivity Partnership’ – How EU Businesses Can Benefit
India and the European Union announced a ‘Comprehensive Connectivity Partnership’ on Saturday (May 8) to support “resilient and sustainable connectivity projects†in India and other nations and regions such as Africa, Central Asia, and the Indo-Pacific where India is looking to boost regional trade and influence.
10-05-2021
VEGOILS-Palm falls after marking best week in two decades, MPOB data awaited
Malaysian palm oil futures slipped more than 1% on Monday, after notching their best week in two decades, as market participants awaited official supply and demand data, although low stockpile forecast kept prices near a 13-year high hit last week
10-05-2021
Investors commit $159m to revolutionise Nigeria’s cassava, oil palm value chains
The Chairman of Fayus Group, Alhaji Fatai Yusufu made this known in a statement issued on Sunday, after a virtual meeting to launch the company’s $159 million oil palm and cassava industrialisation investments.
07-05-2021
Palm oil supply in Malaysia, Indonesia to rise in April: sources
New Delhi — Palm oil production and ending stocks at major producers Malaysia and Indonesia are set to rise in April, buoyed by a combination of favorable weather, easing labor shortages and increased fertilizer use, sources told S&P Global Platts.
07-05-2021
Malaysia’s April palm oil stocks seen lower as exports jump
Malaysia’s palm oil stockpile in April likely inched lower despite production rising to a six-month high, hampered by robust exports and plummeting imports, a Reuters survey showed on Wednesday.
07-05-2021
VEGOILS-Palm oil at 13-year high amid world edible oil supply concerns
May 6 (Reuters) - Malaysian palm oil futures climbed 3.5% on Thursday to their highest since 2008, as tightening edible oil supplies buoyed world agricultural markets.
07-05-2021
Malaysian CPO prices near RM4,700 a tonne as commodities strengthen on recovery bets
KUALA LUMPUR (May 6): Malaysian crude palm oil (CPO) prices climbed to a level near RM4,700 a tonne in morning trade on Bursa Malaysia today as prices of commodities including crude oil and copper strengthened on economic recovery bets despite lingering Covid-19 pandemic concerns.