Latest News

MARKET DEVELOPMENT
02-02-2024

Tapping biomass potential

01/02/2024 (New Straits Times) - THE time is ripe for Malaysian palm oil producers to seize the untapped the potential found in the biomass industry, which is set to be a game-changer for the country in the coming years.

MARKET DEVELOPMENT
02-02-2024

Indonesia Establishes Monthly Palm Oil Reference Price at $806.40 per MT

01/02/2024 (Chem Analyst News) - In a recent decree issued by the trade ministry, Indonesia has established its palm oil reference price at $806.40 per metric ton for the period of February 1-29. This marks an increase from the previous reference price of $774.93. Alongside this, the export tax and levy for Crude Palm Oil (CPO) have been set at $33 per ton and $85 per ton, respectively.

MARKET DEVELOPMENT
02-02-2024

Breakthrough for an Alternative to Crude Oil & Palm Oil

01/02/2024 (Chem Europe) - The conclusion of the Seed funding round marks a significant success for the Hamburg-based deep-tech startup COLIPI GmbH as it embarks on the year 2024. Investors include the High-Tech Gründerfonds (HTGF), the Innovationsstarter Fonds Hamburg (IFH), Nidobirds Ventures GmbH, and Stefan De Loecker. With this, COLIPI moves a significant step closer to its vision of “Fermenting Renewable Carbon For Generational Life Quality”.

MARKET DEVELOPMENT
02-02-2024

Palm Oil Continues To Be Major Driver Of Deforestation

01/02/2024 (Indian PSU) - With an aim to increase the oil palm and boost the Crude Palm Oil production to 11.20 lakh tonnes by 2025-26, the Government of India launched National Mission for Edible Oils- Oil Palm in August 2021.

OILS & FATS
02-02-2024

Govt seeks to boost oilseed output to cut expensive vegetable oil imports

01/02/2024 (Business Standard) - India would step up efforts to boost local oilseed production, the finance minister said on Wednesday, as part of plans to cut pricey imports of vegetable oils from the world's top edible oil producers in Asia, South America and the Black Sea region. India, the world's biggest vegetable oil importer, spent a record $20.8 billion on its edible oil purchases in the fiscal year to March 2023.

MARKET DEVELOPMENT
01-02-2024

Sabah, federal govts to collaborate on developing downstream oil palm industry

31/01/2024 (New Straits Times), Kota Kinabalu - Sabah will collaborate closely with the federal Plantation and Commodities Ministry to develop the downstream oil palm industry.

MARKET DEVELOPMENT
01-02-2024

Adani Wilmar Q3 profit declines to Rs 201 crore

31/01/2024 (Deccan Herald) - Its net profit stood at Rs 246.16 crore in the year-ago period. Total income declined to Rs 12,887.60 crore in the third quarter of this fiscal from Rs 15,515.55 crore in the corresponding period of the previous year, according to a regulatory filing.

MARKET DEVELOPMENT
01-02-2024

Palm oil extends losses amid weaker rival oils, soft Chinese data; up 2% in Jan

31/01/2024 (XM), Singapore - Malaysian palm oil futures declined for a third consecutive session on Wednesday, amid weaker rival oils and lacklustre Chinese economic data, but the contract still logged a monthly gain.

MARKET DEVELOPMENT
01-02-2024

Indonesia sets palm oil reference price at US$806.40/mt in Feb, to set price monthly

31/01/2024 (The Edge Malaysia), Jakarta - Indonesia has set its palm oil reference price at US$806.40 (RM3,814) per metric tonne for Feb 1-29, an increase from US$774.93, a trade ministry decree showed on Wednesday.

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