Archived News

KUALA LUMPUR (Nov 23): Sime Darby Plantation Bhd (SDP) posted a net profit of RM190 million for the third quarter ended Sept 30, 2020 compared to a net loss of RM243 million a year earlier, driven by higher crude palm oil (CPO) and palm kernel (PK) prices realised.

KUALA LUMPUR, Nov 23 - Malaysian palm oil futures slipped to a near two-week low on Monday, hit by shrinking November exports and tracking losses in rival Dalian oils.

Edible oils are a product in which India needs self-reliance, which it can comfortably achieve, but official policy has a pro-business tilt. As edible oil prices rise in the country, it is critical to note that India depends on imports to meet up to 60% of its annual requirement. The latest government data says the annual consumption of edible oil is 25 million tonnes (MT), but of this only 10 MT is achieved from direct and indirect domestic production. And of the 15 MT which is imported, 9.5 MT is palm oil. The precise import dependence varies but estimates say India spends $10 billion in a typical year.

Dar es Salaam. Prices of imported cooking oil have been on the rise during the past two months, reaching as high as Sh66,000 per 20-litre container in some city locations as government promises to work on the issue.

Jakarta (ANTARA) - President Joko Widodo reiterated his commitment for a more sustainable and greener economy at the G20 Riyadh Leaders' Summit late on Sunday, Indonesia’s Foreign Minister Retno Marsudi stated at a post-meeting press briefing shortly thereafter.

BOUSTEAD Plantations Bhd (BPlant), much like its peers, posted a strong financial third quarter (3Q) driven by higher selling prices of its edible oils and fruit production.

JAKARTA: The fallout from the coronavirus pandemic has presented Indonesia with the opportunity to work toward energy security and switch from conventional to renewable sources, officials have said.

KUALA LUMPUR (Nov 24): Analysts have raised Sime Darby Plantation Bhd (SDP) earnings forecast to reflect higher upstream contribution amid improving crude palm oil (CPO) prices.

SYDNEY, Nov 24 (Reuters) - U.S. soybean futures fell for the first time in eight sessions on Tuesday as traders booked profits after prices hit a more than four-year high, although concerns about global production provided a floor to losses.

KUALA LUMPUR: Malaysian palm oil futures reversed early losses to rise 1% on Monday, as concerns over declining output outweighed shrinking November exports and losses in rival Dalian oils. The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange rose 42 ringgit, or 1.28%, to 3,330 ringgit ($814.58) a tonne.

MOODY’S Investors Service has raised its medium-term price sensitivity range for crude palm oil (CPO) to between RM2,200 and RM2,600 per tonne over the next 12 months, with a midpoint of RM2,400 due to continued supply constraints.

CHINA and 14 Asia-Pacific countries signed a major trade pact known as Regional Comprehensive Economic Partnership (RCEP). Chinese President Xi Jinping said China will not seek to disassociate itself with US economy and pledges to cut tariffs. He reassured of gradually opening the door for China to integrate with its global bilateral partners.