Archived News

South Korea's Industry Minister Sung Yun-mo inked the comprehensive economic partnership agreement (CEPA) with his Indonesian counterpart Agus Suparmanto to pave the way for local exporters to penetrate deeper into the Southeast Asian market.

The exit of the United Kingdom from the long economic and trade partnership with the European Union, ie Brexit, is going to become a reality on December 31, 2020.

Malaysian palm oil futures rose 1.9% on Friday as traders expect another month of subdued production and rising exports.

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is expected to consolidate further next week with bouts of profit-taking as most of international traders will take a leave for the Christmas celebration and year-end holiday.

17/12/2020 (Free Malaysia Today News) – PETALING JAYA: Politics is the key to overcoming the European Union’s (EU) continued opposition to palm oil not scientific facts.

17/12/2020 (Antara News Online) – Jakarta: Indonesia needs to build support in the global market to tackle the negative sentiment in the European Union for its palm oil, an official from the Coordinating Ministry for Economic Affairs has said.

17/12/2020 (The Star Online) – NEW DELHI: Palm oil burst through RM3,500 a tonne to the strongest level in more than eight years on optimism that rising exports from Malaysia will deplete the country’s stockpiles and that stronger prices for rival soybean oil will increase the appeal of palm oil.

15/12/2020 (The Hindu Business Line) - Import of vegetable oils decreased by 2 per cent during November this year compared with November 2019.

17/12/2020 (Sci Dev Net) - [NEW DELHI] While palm oil is associated with deforestation and biodiversity loss, replacing it with other vegetable oil crops could prove worse for the environment, says a new study.

17/12/2020 (MECARDO Online) - The FAO publishes a set of indices monthly that track the collective fortunes of the global oilseed complex and its derived products. The indexes cover oilseeds, feed oil meal, and vegetable oil markets, across the key crops grown across the world ranging from soybeans, rapeseed and sunseed to the more niche products in the complex like coconut, groundnuts and flaxseed. The indexes are based on pricing delivered into the EU, which is an important market for Australian Canola. Since September, the FAO indexes have leaped 16-24%, with veg oils booking a 15% rise in November alone.

16/12/2020 (COGENCIS ONLINE) - NEW DELHI: Within a week, the farm ministry will send a Budget proposal for its flagship National Mission on Edible Oils of 50 bln rupees a year to the finance ministry, a senior government official told Cogencis. Earlier, the proposal was for 100 bln rupees.

16/12/2020 (REUTERS) – JAKARTA: Indonesia, the world's top palm oil maker, may lower its palm oil biofuel allocation for 2021 as the government adopted a more cautious fuel consumption outlook next year, an official at the National Energy Council said on Wednesday.