Archived News
10-02-2021
Ministry plans to open MPOC office in Saudi Arabia to expand market to Africa, Middle East
KUALA LUMPUR (Feb 9): The Ministry of Plantation Industries and Commodities (MPIC) plans to open a Malaysian Palm Oil Council (MPOC) office in Jeddah, Saudi Arabia to expand the country's palm oil market to Africa and the Middle East.
10-02-2021
India's edible oil consumption to shrink for second year as prices rally
MUMBAI, Feb 9 (Reuters) - India's edible oil consumption is expected to contract for the second straight year in 2020/21 as a rally in vegetable oil prices to multi-year highs curbs retail buying, industry officials told Reuters.
10-02-2021
Argentine oilseed crushers balm tax hike fears with deal; farmers still wary
Argentina’s oilseed crushers have struck a deal with the government to hold down domestic edible oil prices in a potential salve to tensions after the country’s president threatened to increase food export taxes to contain inflation.
10-02-2021
Malaysian palm oil climbs 4pc
KUALA LUMPUR: Malaysian palm oil futures rose as much as 4.6% to hit a near one-month high on Tuesday, boosted by demand optimism and a rally in rival oils ahead of a US Department of Agriculture (USDA) report that is pegged to show tighter global supplies.
10-02-2021
Pioneering sustainable palm oil in India
Arokia Samy owns a small eatery in southern India’s Chennai and uses a lot of palm oil. He buys it at around INR 90 (US$ 1.22) a litre from the market and chooses it over other cooking oils because it is cheaper and lends itself to the varied dishes his restaurant prepares.
10-02-2021
Focus on oil palm cultivation, Harish tells farmers
Finance Minister T Harish Rao called upon the farmers and officials to focus on oil palm cultivation stating that it would yield better benefits.
09-02-2021
VEGOILS-Palm oil nears one-month high on hopes of bullish USDA report
Palm rose for a fourth straight session to its highest since Jan. 15.
09-02-2021
Bright spots in palm oil industry despite higher Indian CPO duties
India has raised its effective import duties on crude palm oil (CPO) effective Feb 2 in a negative for the palm oil industry
09-02-2021
2 Malaysian palm oil producers face snub after US import ban
Major palm oil buyers are seeking to block FGV Holdings and Sime Darby Plantations from their global supply chains after the US banned imports from the two Malaysian producers, four sources told Reuters.
09-02-2021
Jokowi, Muhyiddin Call for Special ASEAN Meeting on Myanmar
The leaders of Malaysia and Indonesia have called for the Association of Southeast Asian Nations (ASEAN) to convene a special meeting to address the escalating political situation in Myanmar
09-02-2021
VEGOILS-Palm oil gains for third day on expectations of weak January supply
The benchmark palm oil contract FCPOc3 for April delivery on the Bursa Malaysia Derivatives Exchange gained 8 ringgit, or 0.24%, at 3,383 ringgit ($832.84) a tonne during early trade.
09-02-2021
Palm oil may retreat to 3,322 ringgit
Palm oil may retreat to 3,322 ringgit per tonne, as it failed to break a resistance at 3,422 ringgit.