Latest News

MARKET DEVELOPMENT
04-04-2022

Consumers opting for palm oil

Bangladesh's consumers have increased consumption of palm and mustard oil as many of them have switched from soybean oil due to its rising prices, according to a recent report by the US Department of Agriculture (USDA).

MARKET DEVELOPMENT
04-04-2022

Spike in cooking oil prices hits Indonesia as fasting month starts

A spike in the price of cooking oil has hit Indonesia, where the Islamic fasting month started on Sunday. Behind the price hike is an increasing global demand of palm oil produced in Asia amid concerns of a shortage in the supply of sunflower oil, which is made mainly in Ukraine and Russia.

MARKET DEVELOPMENT
01-04-2022

Innovative use of tech will help palm oil industry

31/03/2022 (The Star Online), Kuala Lumpur - Creative and innovative ways in utilising technology are crucial to maintain the palm oil industryâ€™s competitive advantage, said Council of Palm Oil Producing Countries executive director Tan Sri Dr Datuk Yusof Basiron.

MARKET DEVELOPMENT
01-04-2022

Malaysia on track to export more sustainable palm oil into Middle East, North Africa â€” expert

31/03/2022 (The Edge Markets), Kuala Lumpur - Exports of Malaysian sustainable palm oil into the Middle East and North Africa (MENA) region will continue to grow in tandem with the increasing population of the region, said consulting and trading firm Farm Trade.

MARKET DEVELOPMENT
01-04-2022

Import allowed under open general licence to check edible oil prices

31/03/2022 (Business Standard) - In order to improve the domestic availability and keep prices of edible oils under control, the Government of India has extended "free imports" of refined palm oils till December 2022, Union Minister of State for Consumer Affairs, Food and Public Distribution Sadhvi Niranjan Jyoti said on Wednesday.

MARKET DEVELOPMENT
01-04-2022

Indonesia's anti-trust body probes cooking oil producers

31/03/2022 (The Star Online), Jakarta - Indonesia's anti-trust agency is investigating eight cooking oil producers on suspicion of cartel practices amid high retail prices, its chief Ukay Karyadi said on Thursday (March 31).

MARKET DEVELOPMENT
01-04-2022

Dewan Negara told govt looking into ways to prevent abuse of subsidised cooking oil for profit

31/03/2022 (New Straits Times) - The government is looking into ways to prevent irresponsible quarters from abusing subsidised cooking oil for easy profit.

MARKET DEVELOPMENT
01-04-2022

Govt extends stock limits on edible oils, oilseeds till December

31/03/2022 (Business Standard) - The government on Thursday extended stock limits on edible oils and oilseeds till December this year in order to check the soaring prices of the commodities due to the current global geopolitical situation.

MARKET DEVELOPMENT
01-04-2022

Ukraine war may result in 25% supply shortage of sunflower oil in India: Report

31/03/2022 (The Times of India), Mumbai - The ongoing war in Ukraine, which is the world's largest sunflower grower, is likely to result in at least 25 per cent or 4-6 lakh tonnes shortage of crude sunflower oil supplies in India next fiscal, according to a report.

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