Archived News

KUALA LUMPUR (Jan 29): The Malaysian plantation fraternity involved in the entire palm oil supply chain will continue to offer sectoral-related and most practical recommendations to policymakers and the authorities to help mitigate the spread of Covid-19 in the industry.

SINGAPORE: Malaysian palm oil rose for a third consecutive session to trade 3% higher on Friday, on better-than-expected December data and as higher tariffs on Indonesian crude palm exports made the edible oil from Malaysia more attractive.

KUALA LUMPUR (Jan 29): Strong buying support continued to lift the crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives and close higher for three straight sessions.

SINGAPORE, Jan 29 - Malaysian palm oil reversed earlier gains on Friday, tracking cheaper rival oils, weighed by potential vegetable oil import cuts by top consumer India.

KUCHING: Sarawak Oil Palm Plantation Owners Association (Soppoa) is calling on its members to continue tightening movements at estates and mills in view of the surge in Covid-19 infections in districts across the state.

Malang, East Java (ANTARA) - Indonesian Ambassador to Colombia, Antigua and Barbuda, Saint Cristopher and Nevis, Dr. Priyo Iswanto, M.H., wants Colombia to join the Council of Palm Oil Producing Countries (CPOPC) to help counter negative campaigns against palm oil.

KUCHING: Malaysia will benefit from the strong recovery in its main trading partners China and the US, analysts opine, as others also project that the country’s exports will remain resilient in the next one to two months.

Malaysia’s trade with China registered positive growth in 2020 with record high export as China has continued to be Malaysia’s largest trading partner for the 12th consecutive year, said the Malaysian Ministry of International Trade and Industry on Saturday.

India is likely to announce a five-year plan to cut expensive vegetable oil imports worth US$10 billion (RM40.4 billion) a year in next week's federal budget by providing farmers with financial incentives to switch to oilseeds from grains, said three senior government officials

CPO export tax will be set at $93 per tonne in February, while the export levy will be at $255 per tonne.

Palm oil may test a resistance at 3,426 ringgit per tonne, a break above which could lead to a gain to 3,474 ringgit.

Turkey is seeking to enhance ties with ASEAN and the Asia Pacific region to potentially help revive its economy, plagued by prolonged high inflation, widening deficits, as well as the pandemic.