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The big names in India’s palm oil industry are chalking out plans for expansion of oil palm plantation and processing, encouraged by the government’s move to boost oilseed production and reduce the country’s reliance on imports for its cooking oil needs.

Awareness about the importance of tackling child labour issues in the palm oil industry has been growing over the past few years, with the Roundtable on Sustainable Palm Oil (RSPO) increasing their role in the movement.

The research arm of MIDF Amanah Investment Bank Bhd (MIDF Research) recapped that Malaysia’s total trade grew at slower pace of 13 per cent year on year (y-o-y) in July 2021, attributable mainly to weaker exports.

Malaysia’s oil palm industry remains resilient during the movement control order (MCO) and the National Recovery Plan (NRP) currently being implemented nationwide as the agriculture sector continues to be one the main contributors to the country’s Gross Domestic Product (GDP) growth during the Covid-19 pandemic.

Malaysian palm oil futures fell more than 1% on Friday, weighed by weaker Dalian and Chicago soyoil prices, although the contract posted a weekly gain helped by concerns around tight global edible oil supplies.

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is likely to see technical correction but on a downside bias in the upcoming holiday-shortened trading week.

Indonesia set its crude palm oil (CPO) export reference price 13% higher in September, Musdhalifah Machmud, the deputy minister for food and agriculture, told Reuters on Friday.

Pakistan’s food import bill grew by 22.24 per cent to $647.036 million in July compared to $529.311m of the first month of last financial year, according to the data released by the Pakistan Bureau of Statistics (PBS) on Thursday.

Malaysian palm oil futures closed at a more than one-week high on Thursday due to concerns over tight edible oil supply worldwide, though weak August exports and a firmer ringgit capped gains.

JAKARTA (Aug 26): Indonesia's plans to raise the mandatory bio-content in its palm oil-based biodiesel to 40% may face further delays, after the high price of the vegetable oil has made the programme too costly, a senior government official told Reuters.

KUALA LUMPUR (Aug 26): Sarawak Oil Palms Bhd (SOPB) reported a 156.43% surge in its second quarter net profit to RM98.32 million, from RM38.34 million a year earlier, thanks to higher palm products prices.

KUALA LUMPUR, Aug 26 — The Producer Price Index (PPI), which measures the cost of goods at the factory gate that are produced locally, has continued to remain high in Malaysia for July with a 11.7 per cent year-on-year growth, largely due to the higher prices of commodities such as crude and palm oil, official statistics today showed.