Latest News

MARKET DEVELOPMENT
09-05-2023

Palm jumps to near three-week peak on lower output fears

08/05/2023 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures surged more than 4% on Monday to its highest closing in nearly three weeks, as forecasts of a sharper decline in April output triggered production concerns.

MARKET DEVELOPMENT
09-05-2023

Palm rises to highest in over two weeks on lower output fears

08/05/2023 (Business Recorder), Kuala Lumpur - Malaysian palm oil futures extended gains to a fourth consecutive session on Monday, hitting a more than two-week high, as forecasts of a sharper decline in April output triggered supply concerns.

OILS & FATS
09-05-2023

Lebanon: Soaring inflation turns olive oil into a luxury

08/05/2023 (DW) - Lebanese olive oil has become unaffordable for many in the crisis-ridden country. As inflation bites and the US dollar reigns supreme, poorer people are forced to part with their traditional local diet.

MARKET DEVELOPMENT
09-05-2023

Sliding edible oil prices: Traders’ body request govt to step in

08/05/2023 (Indian Express) - The state body of oil millers and oilseed traders has appealed to the Central government to step in to arrest the slide in retail prices of edible oils to protect the Indian oilseeds producers and reduce the country’s dependence on imports.

MARKET DEVELOPMENT
09-05-2023

Prices of imported soybean, sunflower oils fall by 46-57%

07/05/2023 (Times of India), New Delhi - Prices of imported crude sunflower and soybean oils in India have fallen by 46-57% in the past one year after the opening of the supply chain from war-hit Ukraine. However, the drop in retail and wholesale prices of these two edible oils are barely in the range of 16-17%.

MARKET DEVELOPMENT
08-05-2023

[Exclusive] Malaysia, Indonesia would become world's largest palm oil producers if they team up, says Jokowi

08/05/2023 (New Straits Times), Kuala Lumpur - Malaysia and Indonesia - the world's largest palm oil-producing nations, should and work together to counter the European Union's (EU) discriminatory trade policies.

OILS & FATS
08-05-2023

Marine cops seize 3 tonnes of subsidised cooking oil in Semporna, four arrested

07/05/2023 (The Star Online), Kota Kinabalu - Marine police have foiled an attempt to smuggle out some 3.06 tonnes of subsidised cooking oil in Sabah's east coast Semporna district.

MARKET DEVELOPMENT
08-05-2023

DFPD reviews edible oil prices with stakeholders

07/05/2023 (Northeast Now), New Delhi - The decline in the price of edible oil should be passed on to consumers expeditiously, said secretary DFPD, Sanjeev Chopra during a meeting with the leading industry representatives in the national capital.

MARKET DEVELOPMENT
08-05-2023

Cheaper cooking oil

06/05/2023 (The Tribune India) - INDIA imports 55-60 per cent of its edible oil requirement. The international, and hence domestic, prices were on an upward swing during 2021-22 due to several factors. The edible oil prices in the international market have been shrinking for the past six months, but the downtrend trend has not got reflected in domestic prices. Even bumper crops of groundnut, soyabean and mustard did not result in price cuts. The Centre’s intervention is set to bring some relief. The industry representatives have been asked to ensure that the maximum retail price is reduced with immediate effect and the benefit of duty cuts is passed on to consumers. Companies have decided to reduce the prices of cooking oil by up to 6 per cent. A leading firm has already announced a cut of Rs 15-20 per litre across variants.

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