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Windfall profit levy review, oil palm replanting among agenda at MPOA’s inaugural conference
Indonesia, Malaysia push biofuel to offset palm oil price downturn
Palm closes lower ahead of August supply-demand data
El Nino may cause CPO prices to hit, even exceed RM4,000 per tonne in 2H2023 — Sime Darby Plantation MD
Inflation likely to stay moderate till year-end
29/08/2023 (The Star Online), Petaling Jaya - Economists are hopeful that the uptick in the prices of goods and services will continue to be manageable this year, in light of moderating inflation.
TH Plantations' net profit shrinks 46% in 2Q
29/08/2023 (The Edge Malaysia), Kuala Lumpur - TH Plantations Bhd saw its net profit shrink by 45.61% to RM5.31 million for the second quarter ended June 30, 2023 (2QFY2023), from RM9.76 million a year ago, in tandem with lower revenue.
Palm oil refinery: Four new operators to soon become operational, despite short raw oil supply
29/08/2023 (Business In Cameroon) - Four new palm oil refiners will enter the Cameroonian market in the coming months, according to sources inside the Oilseeds Refiners Association (ASROC). These newcomers include Société de raffinage du Cameroun (SORAC) and Nouvelle Raffinerie du Cameroun. SORAC, which aims to market 100,000 tons of refined oil yearly, is controlled by businessman Nassourou Alhadji Issa. As for Nouvelle Raffinerie du Cameroun, it is controlled by Fabrice Siaka, the promoter of the SODINAF, the group that took over the assets of French forestry company Rougier in Cameroon and the CAR in 2018.
Palm, soybean oils import reduced by 5.40% , 6.82% in 1st month
29/08/2023 (Associated Press of Pakistan), Islamabad - Imports of edible oil including palm and soybean into the country during the first months of the current financial year decreased by 5.40 percent and 6.82 percent respectively as compared to the imports of the corresponding month of the last year.
Malaysian palm oil ends higher on softer ringgit
29/08/2023 (Business Recorder), Singapore - Malaysian palm oil futures recovered on Tuesday, helped by a weaker ringgit, although imminent oversupply concerns and weakness in rival edible oils capped gains.
Cambodia reserves 100 mln USD for boosting agriculture: PM
29/08/2023 (Xinhua), Phnom Penh - Cambodia's Prime Minister Hun Manet said on Tuesday that the government has reserved 100 million U.S. dollars for boosting the country's agricultural sector.
SEA to sign pact with Thai palm oil industry to boost bilateral trade
28/08/2023 (The Hindu Business Line) - The Solvent Extractors’ Association of India (SEA) will sign a memorandum of understanding (MoU) with the Thai Palm Oil Crushing Mills Association next month to foster cooperation and mutually beneficial trade opportunities between Indian importers and refiners and Thai producers and exporters of crude palm oil.
DPM Fadillah Yusof receives courtesy call from Quanzhou mayor
28/08/2023 (Malay Mail), Kuala Lumpur - Deputy Prime Minister cum Plantation and Commodities Minister Datuk Seri Fadillah Yusof received a courtesy call from Mayor of Quanzhou Municipal People’s Government, Cai Zhansheng, at his ministry in Putrajaya today.
Hope Croatia will open door to CPO exports to EU: DPR
29/08/2023 (Antara News) - Deputy Speaker of the House of Representatives (DPR), Lodewijk F. Paulus, has expressed the hope that Croatia will become an entry point for Indonesia's crude palm oil (CPO) exports into the European Union (EU).
