Archived News

JAKARTA (Feb 3): Prime Minister Tan Sri Muhyiddin Yassin will make a two-day official visit to Indonesia, beginning tomorrow, at the invitation of Indonesian President Joko Widodo (Jokowi).

KUALA LUMPUR: Research firms believe that India’s import duty hike on crude palm oil (CPO) will reduce the price competitiveness of the commodity against other edible oils in the country, resulting in higher cooking oil price with higher duties.

Record-high prices for used cooking oil (UCO) in Europe have piled pressure on production margins for Ucome biodiesel in the last couple of months, just as demand for road fuels across the continent falters under the weight of tightened lockdown restrictions.

Malaysian palm oil futures slumped over 2% on Tuesday as a steep drop in January exports stoked demand concerns, while an additional tax imposed by top vegetable oil importer India also weighed on sentiment.

India’s move to raise the effective import duty on crude palm oil (CPO) by 5.5 percentage points to 35.75%, effective 2 Feb 2021, is expected to weight on palm oil demand.

Malaysia accounts for 39 per cent of world palm oil production and 44 per cent of world exports. In terms of edible oils and fats, Malaysian palm oil accounts for 11 per cent of the world's production and 27 per cent of export trade.

South Korea said Wednesday it has clinched a free trade deal with Cambodia, the latest in a series of its free trade pacts to revitalize its ailing exports amid the new coronavirus pandemic

Anyone paying close attention to the signage at UK filling stations will know that biofuels are already part of everyday motoring: all petrol and diesel sold here must contain a certain percentage of biofuel in order to reduce CO2 emissions and improve combustion performance

Malaysian palm oil futures slid nearly 2% on Tuesday, hit by concerns over additional tax imposed by top global vegetable oil importer India, while a steep decline in January exports also weighed on sentiment.

More than 50 per cent of edible oils seized by the Food and Drug Administration in Thane and Mumbai during raids last month have been found to be non-certified, the FDA has said.

India has imposed an additional tax on crude palm oil imports as the world's biggest importer of vegetable oils tries to build domestic agriculture infrastructure by taxing imports, Finance Minister Nirmala Sitharaman said on Monday.

he U.K. sees trade deals with Southeast Asian countries as a top priority now that it has officially left the European Union and looks for new commercial partners under a "Global Britain" slogan.