Archived News

MUMBAI: India is set to grow soybeans on more land in the 2019 crop year as higher prices for the oilseed push some farmers to switch from cultivating competing commodities such as cotton and pulses, an industry official and dealers told Reuters.

KUALA LUMPUR: Malaysian palm oil futures closed nearly 2% down on Tuesday, retreating from a three-week high hit in early trade as technical selling and concern over higher than expected production weighed on prices.

SINGAPORE (May 23): Palm oil may test a support at RM2,034 per tonne, a break below that could cause a loss to RM1,967.

BRUSSELS/KUALA LUMPUR (May 23): European Union publishes in its official journal a regulation setting new criteria for the use of palm oil in biofuels.

KOTA KINABALU: Sabah’s oil palm industry received a shot in the arm with the recognition of Lahad Datu Palm Oil Industrial Cluster (POIC) as a palm oil tender port.

A decade ago, when palm oil prices were around twice what they are now, Darsini and her husband wanted a piece of the action.

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, last week, urged the Federal Government to attach premium to palm oil production, saying its price is higher than refined petroleum oil’s.

Politics may be the deciding factor in a RM36 billion deal to supply light combat aircraft to the Royal Malaysian Air Force over the next 10 years, according to a Singapore news report. The aircraft on offer are believed to be the F-50 by Korea Aerospace Industries of South Korea, Tejas by Hindustan Aeronautics (India), YAK-130 by Irkut Aerospace (Russia), JF-17 Thunder (Pakistan) and the Alenia Aermacchi M-346 Master (Italy).

Indications have emerged that over 600,000 workers employed in over 200,000 hectares of palm plantations across the Nigeria may lose their jobs on accounts of threats posed to the industry by smuggling and increasing cost of production because of gross shortage of power supply and infrastructure.

KUALA LUMPUR: Crude palm oil (CPO) futures on Bursa Malaysia Derivatives are likely to trade between RM2,000 and RM2,050 a tonne next week on demand from China, India, Pakistan and the Middle East, said a dealer.

EU lobbies are protecting unsustainable industries at the expense of free trade and poverty alleviation.

On March 26, 2019, Hong Kong and Australia signed a Free Trade Agreement (HKAFTA) and a complementary Investment Agreement (IA). After almost two years of negotiations, Australia and Hong Kong have formalized their trade relationship, which was previously governed by their obligations under the World Trade Organization (WTO) Agreement.