Archived News

KHAMMAM: Telangana is becoming a destination for oil palm farming. Currently, oil palm cultivation is being taken up in Khammam, Bhadradri Kothagudem, Nalgonda and Suryapet districts. While there is a demand for 4 lakh tonnes of crude palm oil every year, production is only 30,000 tonnes. The government is planning to bridge the gap by encouraging cultivation in 2 lakh acres.

KUALA LUMPUR (Dec 14): FGV Holdings Bhd has given its high commitment and taken appropriate action to get the Withhold Release Order (WRO) repealed since the petition was submitted concerning allegations of using forced labour in oil palm plantations, said Minister in the Prime Minister's Department (Economy) Datuk Seri Mustapa Mohamed

In its pre-Budget memorandum, the Solvent Extractors’ Association (SEA) of India has asked the government to revert the import duty on crude palm oil (CPO) to the earlier level and also to place the import of refined soyabean and refined sunflower oil under restricted list.

The government has identified parts of land in North India, specifically Punjab and Haryana to grow domestic oilseeds.

KUALA LUMPUR, Dec 14 - Malaysian palm oil futures rose for a third straight session on Monday, boosted by higher prices of rival soybean oil and expectations of lower output.

FORT COLLINS, Colo. (Reuters) - Speculators’ optimistic views of Chicago-traded corn and soybeans remain at historically high levels despite continued light selling last week, and although the wheat bulls had recently gone dormant, they have likely burst back onto the scene over Russian supply concerns.

The market expects output in December to remain squeezed as rainy weather brought on by La Nina is expected to persist until the first quarter of next year. KUALA LUMPUR: Malaysian palm oil futures gained for a third straight session on Monday, on higher prices of rival soybean and crude oil, with expectations of lower output aiding sentiment.

KUALA LUMPUR: Malaysian palm oil futures ended at a more than 8-year high on Monday, gaining for the third straight session, on hopes of improving exports and stronger rival oil prices. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange closed up 42 ringgit, or 1.23%, to 3,452 ringgit ($851.50) a tonne, marking its highest closing since May 2, 2012.

RAUB, Dec 12 — The government is expected to earn palm oil windfall profit levy of more than RM500 million in 2021 if the price of crude palm oil (CPO) remains stable at RM3,000 per tonne until next year.

KUALA LUMPUR (Dec 11): Some Malaysian palm oil plantations are discouraging foreign workers from going home at the end of their contracts and are asking them to keep working as the novel coronavirus exacerbates a chronic labour shortage, rights groups said.

SINGAPORE: Palm oil may retest a resistance at 3,474 ringgit per tonne, a break above could lead to a gain into 3,504-3,552 ringgit range.

KUALA LUMPUR, Dec 11 - Malaysian palm oil futures rose for a second straight session on Friday on the back of higher prices of rival oilseeds and crude, although the contract was set for a weekly loss as exports slowed.