Archived News

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.

Higher soybean and corn export values led the U.S. Department of Agriculture to raise its fiscal year (FY) 2021 agricultural export forecast to $152.0 billion, up $11.5 billion from the August forecast.

SINGAPORE/BEIJING (Reuters) - Some Chinese soybean importers and processors are looking to cancel deals signed for U.S. cargoes for December and January shipment, after crushing margins collapsed following a steep rally in Chicago futures, three trade sources said.

KUALA LUMPUR: Malaysian palm oil futures ended 1pc higher on Wednesday despite a slump in November exports, boosted by higher crude and tracking a rally in competing edible oils due to concerns over global supplies.

China will step up efforts to expand the free trade area network across the world to enlarge its “circle of friends”, according to China’s Commerce Minister Zhong Shan.

In May next year, prime minister Narendra Modi will meet the heads of 27 member nations of the European Union (EU) bloc in Portugal, which will head the EU Council for six months beginning 2021. Portugal’s foreign minister, Augusto Santos Silva, announced the news during a virtual conversation organised by think tank Carnegie India with Indian foreign minister, S. Jaishankar, on November 23.

KUALA LUMPUR (Nov 24): The palm oil industry seems to have quickly adapted to the new norm and new business model driven by the Covid-19 scenario after experiencing a slowdown in exports and prices in the first quarter of 2020 due to the pandemic.

KUALA LUMPUR, Nov 24 — The Council of Palm Oil Producing Countries (CPOPC) is crying foul over an article published by the Associated Press (AP) titled “Rape, abuses in oil palm fields linked to top beauty brands” on November 18.