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MARKET DEVELOPMENT
26-06-2012

Indian Companies Buying Palm Oil From Tainted Indonesian Firms

26/06/2012 (Times of India) - Indian government and industrialists may be speaking on sustainable growth and raising a voice for a greener world at the UN conference on Environment and Development at Rio, but their palm oil import practices tell another tale. A report released on Tuesday by Greenpeace, an environment NGO, shows that many Indian companies source palm oil, an essential ingredient in food products and soaps, from an Indonesian production firm, known for its environmental malpractices. The Indonesian palm oil giant supplies the oil to a big importer in India, which in turn sources it to major food and beverage companies. The Indonesian company has almost 1.5 lakh hectares of palm oil plantation area which it has extensively deforested, said a report released by Greenpeace.

MARKET DEVELOPMENT
26-06-2012

Indonesia Cuts Crude Palm Export Tax To 15 Pct in July

26/06/2012 (Reuters) - Indonesia, the world's top palm oil producer, will cut its export tax for crude palm oil to 15 percent in July from 19.5 percent for June, a trade ministry official said on Monday.

MARKET DEVELOPMENT
26-06-2012

Pakistan-Indonesia PTA Operative From 1st July

26/06/2012 (Pakistan Observer) - Consul General of Indonesia Rossalis Rusman Adenan has said that Indonesia-Pakistan Preferential Trade Agreement will be enforced by July 2012 and Indonesian Commerce Minister is visiting Pakistan next month to meet his counterpart and discuss about the implementation of PTA.

MARKET DEVELOPMENT
26-06-2012

Edible Oils Flare up on Dry Spell Fears, Weak Monsoon

26/06/2012 (Hindu Business Line) - Dry - Unfavourable weather and concerns about ongoing Kharif crop sowing in main producing states Madhya Pradesh, Gujarat and Maharashtra boost edible oil prices on Monday. Rainfall in India has been 24 percent below average so far this season. The physical market has also been taken support from dry weather in the U.S., which pushed up Chicago and Malaysian futures markets higher. In Mumbai imported Palmolein rose by Rs.8. Soya refined oil, Sunflower oil and cotton refined oil increase by Rs.15 each for 10 kgs. Groundnut and rapeseed oil were steady. Malaysian BMD crude Palm oil closed higher by 77, 74, 77 ringgits a tone on weather concerns and higher demand.

MARKET DEVELOPMENT
26-06-2012

SOP Sees RM1.16 Bln Revenue in FY11, Strong Performance on Buoyant CPO Prices

26/06/2012 (Borneo Post) - Buoyant crude palm oil (CPO) prices provided strong support for Sarawak Oil Palms Bhd (SOP) for the financial year 2011 (FY11), registering a revenue of RM1.16 billion â€“ a 60.2 per cent increase from the previous yearâ€™s RM728.1 million.

MARKET DEVELOPMENT
26-06-2012

Parliament: Risda, Felcra Plant 280,000 Hectares With Rubber, Oil Palm

26/06/2012 (Bernama) - The Rubber Industry Smallholders Development Authority (Risda) and Felcra Berhad have planted 282,966.54 hectares of land in the peninsula with oil palm and rubber.

MARKET DEVELOPMENT
26-06-2012

BURSA MALAYSIA: Share Prices End Mixed, CI Marginally Higher

26/06/2012 (Bernama) - The FTSE Bursa Malaysia KLCI (FBM KLCI) which touched a record high of 1,611.50 after 40 minutes of trading, continued erasing gains to 1,603.12, up 0.05 points with share prices ended mixed Monday.

MARKET DEVELOPMENT
26-06-2012

Felda Global Records RM280.806 Million Q1 Profits

26/06/2012 (Bernama) - Felda Global Ventures Holdings Bhd posted a lower pre-tax profit of RM280.806 million for the first quarter ended March 31, 2012 compared with RM495.284 million recorded in the same period last year.

MARKET DEVELOPMENT
25-06-2012

High Commission Organises Seminar on Business Opportunities in Mâ€™sia

25/06/2012 (Borneo Post) - The High Commission of Malaysia to the Republic of South Africa organised a one-day seminar, themed â€˜Business Opportunities in Malaysiaâ€™ in Cape Town, South Africa recently.

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