Archived News

NEW DELHI: The government on Thursday reduced the basic customs duty (BCD) on crude palm oil to 27.5%, in its bid to increase availability of the edible oil in the domestic market. The current BCD on crude palm oil is 37.5%.

Australia has signed up to the landmark Regional Comprehensive Economic Partnership (RCEP) trade agreement. The move was announced on November 15 in a joint statement by the Hon Scott Morrison, Prime Minister, and the Hon Simon Birmingham, Minister for Trade, Tourism and Investment. The agreement took eight years to negotiate.

NANNING, Nov 26 (China Daily/ANN): China and the Association of Southeast Asian Nations will explore new opportunities for deeper cooperation and seek fresh impetus for socioeconomic development at the upcoming 17th China-ASEAN Expo in Nanning, capital of South China's Guangxi Zhuang autonomous region, experts said.

As the due date of leaving the EU draws near, the UK recently signaled an intention to reset its diplomatic relations, including with China. The UK seems inclined to take a more aggressive path towards China at a cost of obstructing a free trade agreement talks with the world's second largest economy, among others.

KUALA LUMPUR (Nov 25): The Malaysian Palm Oil Association (MPOA) wants the United Kingdom (UK) to open its market wider for Malaysian palm oil.

KUALA LUMPUR, Nov 25 (Reuters) - Exports of Malaysian palm oil products for Nov. 1-25 fell 18.9% to 1,145,868 tonnes from 1,412,361 tonnes shipped during Oct. 1-25, according to independent inspection company AmSpec Agri Malaysia on Wednesday. Here is the breakdown of the AmSpec Agri Malaysia palm export figures for Nov 1-25 compared with a month ago (in tonnes):

KUALA LUMPUR (Nov 25): Genting Plantations Bhd saw its net profit for the third quarter ended Sept 30, 2020 (3QFY20) surge by more than three folds to RM61.38 million, from RM17.96 million a year ago, driven by higher revenue and palm oil prices.

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended higher today, backed by stronger soybean oil prices on the US Chicago Board of Trade coupled with stronger crude oil prices.

KUALA LUMPUR (Nov 25): IJM Plantations Bhd’s net loss narrowed to RM1.04 million in the second financial quarter ended Sept 30, 2020 (2QFY21) from RM2.32 million in the previous corresponding quarter.

KUCHING (Nov 25): Malaysian Palm Oil Board (MPOB) is proposing an additional cess payment of RM5 for every metric tonne of crude palm oil to be imposed for one year starting January 2021.

KUALA LUMPUR: The RM400 million injection for the Cooking Oil Price Stabilisation Scheme (COSS) through Budget 2021 is expected to have an impact on the B40 target groups, said Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi.

KUALA LUMPUR (Nov 25): TDM Bhd reported today that its third-quarter profit after tax from continuing operations stood at RM22.37 million, versus a loss after tax of RM3.81 million a year earlier, as group revenue rose on higher plantation income.