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MPOC expects CPO prices to range from MYR4,400-MYR4,650/tonne in July as palm oil supply outlook tightens
Malaysian Palm Oil Futures Rebound on Stronger Edible Oils and Weak Ringgit
Palm Oil Surges as El Niño Fears and Biodiesel Boom Tighten Global Supply
Palm rises on bargain buying, high stocks cap gains
Indian Edible Oil Imports Start To Rise With Festi
NEW DELHI, Aug 13 (Bernama) -- With the festive season in India fastapproaching, the demand for edible oil has started to increase.
Poor Palm Oil Incomes A Blessing For Some Felda Fa
KUALA LUMPUR, Aug 12 (Bernama) -- The Felda settlers of Jengka 15 in theMaran district of Pahang had depended on their oil palms aka the "goldentree" for their livelihood for about 25 years but poor prices and fallingoutput two years ago had taken a toll on their incomes.
Ample money for 2002 Budget
Four consecutive years of fiscal deficit does not seem to hindergovernment spending. Aided by higher palm oil and petroleum prices,domestic liquidity remains ample to finance future government expenditureunder the forthcoming 2002 Budget.
CPO burning project set to be shelved
THE Government is pulling the plug on the project to use crude palm oil(CPO) as fuel for power generation following the sharp improvement in thecommodity's prices of late.
Pakistani agency proposes additional 15% duty on i
ISLAMABAD - The Small and Medium Enterprises Development Authority (Smeda)has proposed to the ministry of industries and production that 15 percentadditional duty should be imposed on imported edible oil to protect thelocal growers involved in the production of edible oil, Smeda sourcesinformed Business Recorder here on Thursday.Sources said, though, prices of edible oils has increased by 70 percent inthe international market during recent months, necessary measures wererequired to protect the local industry from this onslaught.They further said, local production of edible oil has already shrunk from$ 322 million in 1998-1999 to $ 142 million in 2000-2001, and the trendindicates that the government was not encouraging the local industry bytaking required steps.Sources said, Pakistan Oilseeds Development Board (PODB) failed domesticpolicies have forced Smeda to approach the federal government foradditional steps to save the local industry which was badly needed, sothat the country could produce edible oil in such a quantity to meet thenational requirements.Although, the import of palm oil and soyabean oil have decreased by 50percent and 12 percent respectively during the previous year, however,Pakistan has spent about $ 325 million on the import of edible oil fromdifferent markets, sources added.When the Central Board of Revenue (CBR) sources was contacted to know theduties on edible oil, they disclosed that duty on edible oil is the secondhighest after cars.On the other hand, Pakistan Vanaspati Manufacturers Association (PVMA) isdemanding reduction in custom duty on edible oil, as prices of thecommodity were already skyrocketing in the international market. Likewise,prices of ghee and edible oil in the local market were being increasedevery day.Sources said, in a recent meeting, the PVMA has asked the ministry ofindustries and production to reduce duty on tin plate, so that the pricesof ghee and cooking oil could be brought under control.
2001 PIPOC To Discuss Latest Trends In Palm Oil In
KUALA LUMPUR, Aug 11 (Bernama) -- If you want to know what's buzzing inthe palm oil industry, perhaps the 2001 International Palm Oil Congress(2001 PIPOC) to be held here Aug 20 to 23 is the best place to be at.
Palm oil firms seek review of govt purchase price
13 August 2001(Business Times) - PALM oil companies, committed to supplycrude palm oil (CPO) for the government-initiated CPO burning project, areasking for a review of the purchasing price.
Project to use CPO as fuel for power plants must g
10 August 2001(Business Times) - THE project to use crude palm oil (CPO)as fuel for power generation plants must go on to maintain positive marketsentiment and provide valuable data to researchers on the viability of themove.
JTOP seeks more land for expansion
Friday, August 10, 2001 (The Star)- JOHORE Tenggara Oil Palm Bhd (JTOP) ison the lookout for more plantation land as it seeks to expand its oil palmplantation business.According to JTOP managing director Datuk Shahabudin Shafie, despite thesomewhat low price of crude palm oil (CPO) in the international market,the company is confident of the future prospect of the commodity."We have a lot of faith in palm oil and it remains our business focus. Infact, things are looking up for us as now the CPO price has risen toRM1,300 per tonne," Shahabudin told reporters after the company's EGM inKuala Lumpur yesterday.He said that as part of JTOP's expansion plan, it had acquired 21,000acres of plantation land in Gua Musang, Kelantan, of which 3,000 had beenplanted with oil palm.The purchase costing RM49mil was funded by proceeds totalling RM104milfrom the disposal of its 25% share in Gugusan Induk Sdn Bhd, awholly-owned unit of JTOP.A further RM30mil will be used to repay bank borrowings and the rest foroperational costs.JTOP has a landbank of 75,000 acres, mostly in Kota Tinggi and Kluang inJohor.The EGM had earlier approved a proposal for the disposal by Gugusan IndukSdn Bhd, a wholly-owned subsidiary of JTOP, of its 25% equity interest inNice Frontier Sdn Bhd, comprising 2.5 million RM1 shares for RM104.425milcash.
