Archived News

BEIJING, Nov 20 — Malaysia has a huge potential to cement its presence in China’s market for palm oil and palm oil-based value-added products over the next three to five years while reducing further its dependence on the European market, said the Malaysian Palm Oil Board (MPOB).

KUCHING (Nov 20): A total of RM83 million will be allocated for port development, navigation safety and the ongoing riverine projects in the 2024 State Budget, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

As part of Project Lampung, a collaborative sustainability initiative, Solidaridad, BASF, The Estée Lauder Companies (ELC) and The Roundtable on Sustainable Palm Oil (RSPO) announce that they have made 'real progress in strengthening the sustainable palm oil supply chain and supporting smallholder farmers'.

Fitch Ratings-Jakarta/Singapore-20 November 2023: Fitch Ratings expects average crude palm oil (CPO) prices to be significantly lower in 2024, based on our expectations of a higher output of palm and other vegetable oils, due mainly to favourable weather conditions amidst a transition in global weather patterns. We assume Malaysian benchmark CPO prices to average USD650/tonne (t) next year, compared with USD830/t in 2023.

19/11/2023 (Malay Mail), Miri - More palm oil smallholder farmers in the state are encouraged to join and patronise the Sarawak Dayak Palm Oil Planters Assocation (Doppa).

18/11/2023 (The Star Online), Kuala Lumpur - The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives is anticipated to trade sideways with a downside bias next week, mainly due to the current negative global market sentiment.

19/11/2023 (Malay Mail), Beijing - The official visit of Deputy Prime Minister Datuk Seri Fadillah Yusof to China ended successfully with the country committing to closer cooperation, especially in the fields of agriculture and palm oil commodities.

18/11/2023 (The Star Online), Kangar - The Domestic Trade and Cost of Living Ministry is studying the possibility that subsidised cooking oil packets are being sold by certain parties as used cooking oil, causing supply disruption in the market.

19/11/2023 (Business Recorder), Jakarta - Malaysian palm oil futures closed down on Friday, snapping a four-session rally, dragged by weakness in Dalian’s soyaoil and lower crude oil prices.

BEIJING: Malaysia’s palm oil and palm oil-related exports to China are expected to increase this year, if not maintained at last year’s level, says Deputy Prime Minister Datuk Seri Fadillah Yusof (pic).

Malaysian palm oil futures closed lower on Thursday, tracking a decline in soyoil prices on the Chicago Board of Trade, while profit-taking also weighed.

Bunge and Musim Mas Group have joined forces to foster sustainable practices among smallholder farmers in Sambas, West Kalimantan, Indonesia. The collaboration aims to provide training for over 1,000 independent smallholders, equipping them with the skills needed for sustainable palm oil production.