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Malaysian palm oil futures climbed more than 3% to an eight-year high on Thursday, extending gains to a third straight session on surveys showing a steep decline in October stockpiles and production

Consul General (CG) of Thailand Thatree Chauvachata has stressed that the 10th round of negotiations to be hosted by Pakistan for finalising the Free Trade Agreement (FTA) between Thailand and Pakistan suffered delays due to coronavirus pandemic but instead of waiting further, arrangements should be made to hold these crucial negotiations virtually so that the much-awaited FTA, which has been pending since 2015, could be finalised at the earliest.

FGV Holdings Bhd is still in talks with the US Customs and Border Protection (CBP) regarding the latter’s findings of its investigation towards FGV’s alleged use of forced labour and the revocation of the withhold release order (WRO).

As an open economy, our growth is very much dependent on the health of the global economy. Yet as the outlook for export-and-foreign investment-driven recovery remains grim, we cannot look to the world for help.

Futures contracts of all components of the edible oil basket, barring mustard, rose on domestic exchanges today.

Malaysia’s exports of palm oil products to the United States generally do not encounter any problems except for the trade restrictions imposed on palm oil from FGV Holdings Bhd from Oct 1, 2020, said Plantation Industries and Commodities Minister Datuk Dr Mohd Khairuddin Aman Razali.

Malaysian palm oil futures rose for a third consecutive day on Thursday, hovering at a near 10-month high hit in the previous session, amid estimates stockpiles fell to a three-year low

An economist with the Institute for Development of Economics and Finance (Indef), Bhima Yudhistira Adhinegara, on Thursday said that Indonesian palm oil businesses should be wary of the possibility of Joe Biden winning the United States election as he said the Democrat candidate will focus on environmentally friendly-economy.

The National Association of Smallholders Malaysia (NASH) had urged the government to reintroduce the smallholder palm oil replanting assistance scheme in the budget tomorrow.

The Ministry of Plantation Industries and Commodities (MPIC) is ready to accept any technological innovation, including blockchain technology, as long as it meets the traceability requirements of the country’s palm oil industry.

The Ghana Export Promotion Authority (GEPA) and the Ministry of Trade and Industry have projected that the country would realize a total amount of US$134 million from oil palm export in the next 10 years, to reverse the current deficit in the product’s export

World food prices rose for a fifth month running in October, fully recovering from the shock caused by the global coronavirus pandemic and with gains seen in most sectors, the United Nations food agency said on Thursday.