Archived News

The Roundtable on Sustainable Palm Oil (RSPO) brings producers and processors together with manufacturers, retailers, banks, and NGOs, and has advocated a “multi-stakeholder approach” to reduce the environmental impact of the palm oil industry.

KUALA LUMPUR: Companies that make top brands including Kit Kat chocolate and Dove soap may face fines if they fail to buy more green palm oil under new rules aimed at improving the controversial industry’s environmental sustainability.

NewDelhi — The US agricultural trade surplus in for the 2020 fiscal year that starts in October and ends September 2020 is projected at $7 billion, up 52% year on year, because of increased export value of soybeans, pork and dairy products, according to the USDA.

Malaysian palm oil futures slumped about 3.6% on Tuesday, their biggest intraday drop in nearly seven months, as weaker rival oils on China's Dalian Commodity Exchange and expectations of lower imports by key buyer India weighed on sentiment.

IOI Corp Bhd’s net profit rose 3.6% to RM149 million for its first financial quarter ended Sept 30, 2019 (1QFY20) from RM143.8 million a year ago, mainly due to higher contribution from its resource-based manufacturing segment.

The Netherlands is convinced of the importance of palm oil and sees a bright future for the industry in Malaysia.

Malaysian palm oil futures slumped about 3.6 per cent on Tuesday, their biggest intraday drop in nearly seven months, as weaker rival oils on China’s Dalian Commodity Exchange and expectations of lower imports by key buyer India weighed on sentiment.

The House of Representatives (DPR) Commission IV has urged the government to include palm oil in the negotiations on Indonesia - European Union Comprehensive Economic Partnership Agreement/IEU-CEPA)

H Plantations Bhd’s (THP) net loss rose 59.6% to RM31.61 million in the third quarter ended Sept 30, 2019 (3QFY19) from RM19.8 million a year ago, largely due to impairment losses of property, plant and equipment amounting to RM53.57 million, lower revenue due to lower average realised prices for crude palm oil (CPO), palm kernel and fresh fruit bunch and higher finance cost by RM14.37 million mainly due to adoption of Malaysian Financial Reporting Standards 16 Leases.

The government is considering putting restrictions on the import of all kinds of refined edible oils while continuing to keep crude oils under the free category.

Indonesia has invited Mexico to conduct research together to develop palm oil-based biofuel as renewable energy during the third meeting of the Indonesia-Mexico Consultative Committee on Agriculture (CCA) held in Mexico City

The global palm oil market is staggeringly large, with the industry valued at $62 billion in 2016, according to the United Nations Environment Programme. Palm oil is found in roughly half of all supermarket products, says the UN, as well as in biofuels.