Archived News

KARACHI: The Governing Body of Coastal Development Authority (CDA), Government of Sindh - the apex decision making body on coastal areas of the province - has approved the establishment of palm trees nursery and tissue culture laboratory to expand the palm cultivation and oil extraction project in coastal areas of Sindh.

Expectations of high domestic production of edible oil and sluggish demand decrease imports. India to import edible oil within a range of 12.5 to 13.5 million tonnes in 2020-21.

Singapore — The Indian Ministry of Finance has cut the import duty on crude palm oil by 10% to 27.5%, according to a document sent to S&P Global Platts.

Olam Palm is setting up a new plant producing biofuel from palm oil in Gabon.

KUALA LUMPUR: Malaysian palm oil futures extended early losses on Thursday to close 1.4% lower on worsening November exports, but supply concerns helped limit further slide. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 46 ringgit to 3,239 ringgit a tonne.

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.