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President Joko Widodo (Jokowi) launched the 30 percent blended biodiesel (B30) program at a gas station in Jakarta, Monday, while highlighting that the measure may help Indonesia save US$4.8 billion in foreign exchange in 2020.

ndonesia is stepping up its economic diplomacy in 2020 as trade disputes with the European Union (EU) are poised to escalate. The two sides have traded complaints at the World Trade Organization (WTO) over Indonesia's two main commodities, palm oil and nickel ore, even as they continue talks for a free trade agreement.

Cooperatives (co-ops) involved in oil palm cultivation here have been urged to strive for the Malaysian Sustainable Palm Oil (MSPO) certification before the year-end deadline.

KUALA LUMPUR: The Malaysian Palm Oil Board (MPOB) expects the country’s palm oil stocks to finish the year at 2.1 million tonnes or at least remain at the current level of 2.25 million tonnes on continued demand for the edible oil amid a lower-than-expected production.

Malaysia expects its palm oil stocks to end the year down at 2.1 million tonnes or remain at the current level of 2.25 million tonnes.

Palm oil import has reduced drastically from 2,64,000 tonne in September 2019 to 1,22,000 tonne in November 2019 and also the overall import of palmolein oil has decreased, said BV Mehta, executive director, SEA.

KUALA LUMPUR, Dec 19 — The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives inched higher despite a cautious market tone.

"We have asked the Tea Board to see if we can grow palm in our estates and manufacture palm oil. We need a big area for this", Vivek Goenka, chairman of the ITA, said

United Malacca Bhd (Dec 19, RM5.38) Maintain sell with an unchanged target price of RM5.32: United Malacca Bhd’s core losses narrowed to RM13.7 million for the second quarter ended Oct 31, 2019 (2QFY20) compared with RM18.5 million for the preceding quarter, thanks to higher fresh fruit bunch (FFB) production and palm oil prices.

THE activation of the export duty for crude palm oil (CPO) purchases after a long suspension is practical as the commodity has been performing progressively since its low point last year, said Singapore-based Palm Oil Analytics owner and co-founder Dr Sathia Varqa.

Malaysian palm oil futures ended lower on Wednesday, weighed by weaker rival oils and as a recent rally in palm prices curbed demand for the commodity, although worries over lower stockpiles capped losses. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange closed down 0.7% at 2,859 ringgit ($685.61). It had fallen as much as 2.5% earlier in the session.

The palm oil industry has a sustainability problem which can be summed up in one word: orangutans. Production of palm oil used in food, cosmetics, soap and other items has surged because it pairs both high yields and versatility. But rainforests in Asia, Africa and Latin America have been cleared for plantations. That has boosted greenhouse gas emissions, obliterated wildlife habitats, curbed biodiversity and encroached on land belonging to indigenous people.